Crypto Scam Revenue From ‘Pig Butchering,’ AI Schemes Likely Grew in 2024, Chainalysis Reports Fraudsters raked in at least $9.9 billion and possibly as much as $12.4 billion with their methods becoming more “professionalized.”

Crypto scams likely hit a new record in 2024, driven by ‘pig butchering’ and AI, says Chainalysis Crypto scam revenue is estimated to have hit record levels last year as cybercriminals leverage new technologies like AI and become more organized.

Tether Worth $9M Tied to ‘Pig Butchering’ Scams Is Seized by U.S. DOJ The U.S. Department of Justice (DOJ) has seized $9 million worth of the USDT stablecoin linked to organizations that exploited victims through “pig butchering” scams.