Pig Butchering Scam: Scam in China is also spreading in India

Share Market Pig Butchering Scam : Currently there are a lot of scams on the internet. Scammers are deceiving people in new ways. Similarly, a new type of scam is increasing in India, the name of this scam is 'Pig Butchering'. It originated in China. Nitin Kamath, founder of online brokerage firm Zerodha, has warned about this.

Kamath said that scammers are creating websites that look like Indian brokerage firms. These websites are designed for phishing. Through which investors are cheated. After Chinese loan apps, now this pig butchering scam from China and other Asian countries is flourishing in India. 

How does it work?

In many countries, pig meat is eaten with love. When pigs are raised for meat, they are fed and raised first. So that you get a lot of meat. Similarly, in this scam, scammers lure their target to win a huge sum of money. (What is Pig Butchering Scam) Initially the target is allowed to win some amount. As the amount is won, the person trusts the hackers, and they invest large sums of money. The hackers then disappear without a trace, and then the person realizes that he has been duped.

How To Prevent Yourself:

 Do-it-yourself prevention The best way to avoid these scams is to not reply to unknown messages, and not to click on phishing links. Also not to download any trading app from any source other than play-store or app store. Similar scams are happening in the case of cryptocurrencies as well.