Pig butchering scam stories

Sep 3, 2026

FinCEN links $12.7 billion in crypto fraud to Asian scam compounds

The Financial Crimes Enforcement Network analyzed over 33,000 suspicious activity reports filed between September 2023 and December 2025, identifying $12.7 billion in suspected fraudulent cryptocurrency transactions tied to pig butchering scams operated from Asian compounds. The announcement comes as Singapore authorities separately reported preventing $9 million in crypto scam losses through a joint police and exchange operation.

Sep 3, 20263 sources

Top claims

▪Digital asset investment scam victims financed their losses using retirement accounts, home equity lines of credit, second mortgages, and personal loans.
▪The Financial Crimes Enforcement Network analyzed 33,904 Bank Secrecy Act filings submitted by approximately 1,300 financial institutions to compile its digital asset investment scam report.
▪Financial Crimes Enforcement Network data indicates that older adults aged 60 and over are not disproportionately victimized by digital asset investment scams relative to their population share.

Subtopics

Crypto regulation Crypto market integrity & manipulation Crypto privacy & surveillance Anti-money laundering (AML)

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