
A disturbing trend emerges in the demographic profile of pig butchering scam victims. While older adults have historically been the main targets of financial fraud, these scams now focus on younger, tech-literate individuals. The latest data reveals that those aged 30 to 49 represent the majority of reported cases. Pig Butchering Scams A 2024 study by Cyvers analyzed 150 major crypto platforms, including exchanges, payment service providers, and banks, with a focus on the Ethereum blockchain. The research uncovered over 200,000 cases of Pig Butchering scams, which resulted in more than $5.5 billion stolen across 1.15 million fraudulent transactions. The impact of these scams varied significantly among platforms. While some exchanges and service providers saw extensive fraud, others reported minimal cases. Among the ten most affected platforms were three of the five largest crypto exchanges by trading volume, a crypto-friendly bank, and an institutional trading platform. The study demonstrated the scale of Pig Butchering fraud and the vulnerability of both centralized and decentralized financial systems. A significant portion of funds stolen in Pig Butchering scams is concentrated in a small number of cryptocurrencies. While fraudsters utilize various digital assets, Cyvers found that certain high-liquidity coins are preferred for illicit transactions. These assets are targeted due to their greater acceptance and ease of laundering. Stablecoins, particularly those with a strong market presence, are frequently used in scams due to their stability and seamless conversion. Additionally, major smart contract platforms experience high levels of fraudulent activity due to their dominance in decentralized finance (DeFi) and large transaction volumes. USDT and Ethereum each account for 45% of stolen funds, while USDC and DAI represent 1.7% and 1.3%, respectively. To evade detection, scammers leverage multiple micro-transactions to build victim trust and move funds across several wallets before reaching major exchanges. They use both centralized and decentralized protocols for laundering. Additionally, cross-chain bridging allows them to obscure transaction trails, often swapping assets for privacy coins such as Monero. Meanwhile, cashing out occurs through OTC markets, money mules, and gift card conversions, which makes tracking and recovery difficult. From Romance to Ruin Pig Butchering now accounts for over 60% of such cases. It is a highly adaptable scam that blends elements of romance fraud, investment scams, and Ponzi schemes. Unlike traditional rug pulls or quick deception tactics, Pig Butchering relies on long-term psychological manipulation. Scammers build trust through emotional connections, similar to romance scams, before luring victims into fraudulent investments. These schemes promise high returns and mimic Ponzi structures, before ultimately draining victims’ funds. This hybrid nature makes Pig Butchering particularly devastating and enables scammers to exploit victims on both emotional and financial levels. The post Over $5.5 Billion Stolen in Pig Butchering Scams: Cyvers Reports appeared first on CryptoPotato .
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Tether Co-Founder to Launch Yeild Bearing Stablecoin USP

Tether co-founder Reeve Collins is launching a decentralized stablecoin that will compete with USDT in an increasingly crowded space that is still dominated by two players. The project will debut a stablecoin called USP on Ethereum and Solana blockchains in the second half of 2025, according to Bloomberg. Pi will use smart contracts to mint its USP stablecoin and minters will earn yields in the form of another token called USI. Competing With Tether The stablecoin will be backed by yield-bearing real-world assets such as bonds and over-collateralized with assets like Treasuries and money-market funds. “We view Pi Protocol as the evolution of stablecoins,” Collins told Bloomberg before comparing it to Tether. “Tether has been extremely successful in showcasing demand for stablecoins. But they keep all the yield. We believe 10 years later the market is really ready to evolve.” Collins, who was CEO from 2013 to 2015, and his partners sold Tether to the operators of the Bitfinex exchange in 2015. Back then, USDT stablecoin’s market value was less than $1 billion, today it is close to record highs of more than $140 billion. Pi Chief Executive Officer Bundeep Singh Rangar said, “You want assets that are non-correlated to crypto that are mid- to high yield, low risk.” “We have a mechanism that assesses the quality of the asset. They are ones that are vetted on their loss ratio and origination of where they are coming from,” he added. Regulations are shifting. Yield-bearing stablecoins will be the next trillion-dollar asset class — Pi Protocol (@piprotocol) February 18, 2025 Stablecoins got a green light this year with the election of US President Donald Trump. In his first days in office, he signed an executive order promoting US dollar-pegged stablecoin adoption while Congress is working on a regulatory framework for them. Coinbase CEO Brian Armstrong also wants to chip away at Tether’s market dominance. At the company earnings call last week, he said that the firm aims to make USDC “number one” but admitted that this ambition was a “stretch goal.” A Crowded Space USP is entering an extremely competitive stablecoin market that is dominated by Tether which has a share of 60% from a current supply of $141 billion. Circle’s USDC has seen its supply and market share grow in recent months, and it is currently $56 billion, giving it a market share of 24%. The third largest stablecoin is USDS, formerly DAI, which has just under $9 billion in circulation and a market share of almost 4%. The post Tether Co-Founder to Launch Yeild Bearing Stablecoin USP appeared first on CryptoPotato . Crypto Potato

Could MAGACOINOFFICIAL.COM Be the Next BTC? XRP and SOLANA Investors Are Taking Notice!
The Next Big Crypto Opportunity? Bitcoin (BTC) changed the financial world, and early investors in XRP and Solana (SOL) saw life-changing gains. Now, crypto traders are hunting for the next breakout project, and MAGACOINOFFICIAL.COM is emerging as a top contender. With over $2 million already raised in presale, this early-stage gem has serious upside potential, especially as exchange listings approach. Meanwhile, other strong altcoins like Polygon (MATIC), Chainlink (LINK), Polkadot (DOT), and Uniswap (UNI) are also making moves. LIMITED-TIME OFFER: GET 50% EXTRA BONUS WITH CODE “MAGA50X”! MAGACOINOFFICIAL.COM Is on Investors’ Radar The biggest crypto winners always come from getting in before the crowd, and MAGACOINOFFICIAL.COM is still in its early phase. Presale Prices Are Still Ultra-Low – Perfect timing to buy before major exchange listings. Exclusive Availability – Only available at MAGACOINOFFICIAL.COM , giving early adopters a first-mover advantage. 50,000% Growth Potential – Analysts predict this could be one of the fastest-growing cryptos in 2025. ACT FAST! USE PROMO CODE MAGA50X NOW AND CLAIM YOUR 50% EXTRA BONUS! Other Altcoins Seeing Strong Growth Polygon (MATIC): A top Ethereum scaling solution, powering faster and cheaper transactions. Chainlink (LINK): The leading oracle network, bringing real-world data to blockchains. Polkadot (DOT): Focused on blockchain interoperability, connecting multiple networks for seamless integration. Uniswap (UNI): The top decentralized exchange (DEX), driving major DeFi adoption. DON’T WAIT! APPLY “MAGA50X” NOW FOR A 50% BONUS BEFORE PRESALE ENDS! Why MAGACOINOFFICIAL.COM Could Be the Next Big Crypto While MATIC, LINK, DOT, and UNI have strong market positions, the biggest returns always come from early-stage plays. MAGACOINOFFICIAL.COM is quickly gaining momentum, and with major exchange listings ahead, investors expect a huge price surge. DON’T MISS OUT! APPLY MAGA50X TODAY FOR A 50% EXTRA BONUS! Final Verdict While XRP, Solana, MATIC, LINK, DOT, and UNI are solid investments, MAGACOINOFFICIAL.COM is the one to watch for 100x potential. With a presale price under $0.20, a 50% bonus, and unstoppable momentum, this could be the best crypto investment of 2025. DON’T MISS OUT – CLAIM YOUR 50% BONUS NOW AT MAGACOINOFFICIAL.COM WITH CODE “MAGA50X”! Website: MAGACOINOFFICIAL.COM X/Twitter: https://x.com/officialMAGAx Continue Reading: Could MAGACOINOFFICIAL.COM Be the Next BTC? XRP and SOLANA Investors Are Taking Notice! Crypto Potato