Beware of "pig butchering" scams where fraudsters contact you randomly, build trust, and then manipulate you into fake investments, ultimately disappearing with your funds. These scams involve soliciting modest investments, showcasing false growth, and encouraging larger investments.
The fraudsters often initiate contact through text messages, social media, or messaging apps, pretending to develop a genuine relationship. They gradually steer the conversation toward investments, asking about your accounts. Then they provide instructions, claim connections to reputable institutions, or promote cryptocurrency trading platforms they control. Once you invest larger amounts, they abruptly cause losses or disappear.
To protect yourself, avoid responding to unsolicited messages, refuse video chats, never share financial information with strangers, question unsolicited investment advice, research unfamiliar platforms, be skeptical of exaggerated claims, and avoid trading based on insider information.
Here is a link to more resources: https://www.finra.org/investors/insights/pig-butchering-scams