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Today in Focus

The scammers forced to steal people’s life savings

Today in Focus

The Guardian

News, Daily News

4.65.9K Ratings

🗓️ 1 February 2023

⏱️ 38 minutes

🧾️ Download transcript

Summary

‘Pig butchering’ crypto scams, where victims are wooed for months before being fleeced, are ruining people’s lives. But how are criminal gangs exploiting trafficking victims – and using fake UK firms – to steal millions of pounds?. Help support our independent journalism at theguardian.com/infocus

Transcript

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0:00.0

This is the Guardian.

0:09.2

Today, what are pig butchering scams?

0:12.9

And how are they fleeting people out of their life savings?

0:25.6

It began in lockdown.

0:27.8

Toby lives alone in his flat and he works long hours in IT.

0:32.6

He was using dating apps to distract from the monotony.

0:37.0

So I met this person on hinge. We've been chatting for good three, four weeks.

0:43.3

We just took one normal questions, traveling countries, what's on pivots, just stand as tough.

0:51.2

So far so normal.

0:52.4

And I mentioned Bitcoin because I had some Bitcoin and it kept fluctuating up and down and that's

0:58.4

where I think she got the hook.

1:01.1

By this point, Toby had been chatting to this person for hours a day.

1:06.4

They become familiar with one another.

1:08.8

They share jokes, memes and tips on where to invest cryptocurrency.

1:16.1

Toby knew what he was doing. He'd done his research and his new friend was encouraging him to

1:22.0

try putting his money into a well-known platform. And it all looked legit.

1:28.0

So I put 10,000 and I was getting certain that I've returned.

1:31.6

So she kept saying that you need to get to the mining pool target and then we all got

1:36.3

for dinner to celebrate.

1:38.6

Toby could see he was getting a return on his investment.

1:42.2

His £10,000 had already made him £6-700.

1:47.3

So he put more money in.

...

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