Investigating Cryptocurrency Scams | Truth Talks | Big [If True]

What happens when cryptocurrency investments go wrong? Dive deeper into a world of crime, lies, and danger as we explore crypto scams.

The Investigative Journalism Foundation’s Zak Vescera joins Molly Thomas to discuss his latest stories delving into the world of crypto-crime. From authorities across the country working to subvert crypto-corruption, to a real Canadian victim of a “pig butchering” scam who lost millions, Vescera
speaks about his investigation, and the real-world impact crypto scams can have on Canadians.

Vescera explains the term “pig butchering,” which refers to the process of fattening up victims with affection and trust before scamming them out of their money[^i^]. He also highlights the challenges law enforcement faces in tracking down these scammers, who often operate from countries like Myanmar and Cambodia

Zak Vescera reveals the shocking rise in cryptocurrency fraud complaints to the RCMP, which have skyrocketed from just 18 cases in 2015 to nearly 4,000 in 2023. He shares the harrowing story of LW, a businessman from Nevada who lost $26 million in a crypto-romance scam. LW’s case is a chilling example of how sophisticated these scams can be, with scammers using fake documents and social engineering to build trust over months.

He lost $26 million in a crypto-romance scam. Here’s how he’s trying to find the money: https://theijf.org/crypto-victim-26-million

Reports of crypto-related crime skyrocketing: RCMP documents: https://theijf.org/rcmp-crypto-cases-skyrocketing

0:00 Introduction
0:20 Shocking Discoveries in Crypto Fraud
0:58 LW’s Story
2:08 The Scam Unfolds, Fake Documentation
3:57 Realization of the Scam
4:58 Pig Butchering
6:56 LW’s Legal Recourse
8:11 Conclusion

About Big [If True] Big [If True] tackles the rising threat of misinformation and disinformation. Hosted by award-winning journalist Molly Thomas, this bold, new show uncovers why we fall for falsehoods and how to fight back.

Unpacking misinformation, scams and internet culture stories from all over the world, every week. Stay tuned for more Reality Check segments to keep you informed and in the know!
https://www.youtube.com/playlist?list=PLijsUERfH6IlLXfPdlND2TbuSnY_h65fK

Dive into the facts with Deep Dive – short explainers on the misleading narratives that (might) shape our everyday lives.
https://www.youtube.com/playlist?list=PLijsUERfH6IkKjLT9LVwXkxAbtHTcqMUg

See 1-on-1 conversations between experts and insiders who uncover the real stories behind the headlines on Truth Talks.
https://www.youtube.com/playlist?list=PLijsUERfH6IkVmqFr8oGCKXXW6OyEjIBd

Big [If True] Panel Discussions! Experts discuss misinformation, disinformation, scams, hoaxes, and conspiracy theories and explore why they spread so easily.
https://www.youtube.com/playlist?list=PLijsUERfH6Ik9mSrH5VOdovbR1vIgY_rS

Learn how journalists uncover and debunk bad information online—and get tips on how to protect yourself in our “Wait, What?” segments.
https://www.youtube.com/playlist?list=PLijsUERfH6IkiXKk66CTxBELHnX3utFow

Follow us on Instagram: https://www.instagram.com/bigiftruetvo/
Subscribe to TVO Today on YouTube: YouTube.com/@tvotoday
See full episodes of Big [If True] on TVO: https://www.tvo.org/big-if-true
Subscribe to TVO Media Education Group newsletters: https://www.tvo.org/newsletters

Get the TVO Today app:  
App Store: https://apps.apple.com/ca/app/tvo-today/id1616182112
Google Play https://play.google.com/store/apps/details?id=org.tvo.tvomediaapp&pli=1

#CryptoScams #InvestigativeJournalism #CryptoFraud

source