Confidence, confusion, cashout: How pig butchering is blindsiding victims

Threat actors are disarming their victims with a new approach: The long game. Instead of asking for money or gift cards upfront, they build a connection and confidence until they cash in on the big payout. In this episode of Discarded, Selena Larson and Crista Giering are joined by Proofpoint team members: Tim Kromphardt, Email Fraud Researcher, and Genina Po, Threat Analyst, to discuss socially engineered attacks and how victims are tricked. Join us as we discuss:Understanding what pig butchering isHow the scam blindsides victimsThe evolution of the fraud from China to other countries in AsiaResources mentioned: https://www.rappler.com/business/chinese-mafia-trafficking-filipinos-lure-lonely-professionals-cryptocurrency-scam/https://finance.yahoo.com/news/chinese-mafia-forcing-filipinos-crypto-034555327.htmlhttps://www.youtube.com/watch?v=720qUBQZJZ0https://www.proofpoint.com/us/blog/threat-insight/broken-dreams-and-piggy-banks-pig-butchering-crypto-fraud-growing-onlinehttps://www.vice.com/en/article/n7zb5d/pig-butchering-scam-cambodia-traffickingKeep up with the latest tales from the threat research trenches by subscribing to DISCARDED in Apple Podcasts, Spotify, or wherever you get podcasts. Thanks for listening!