The post Pig butchering is creating entirely new industries appeared on BitcoinEthereumNews.com.

By now, most people involved in crypto are at least familiar with the concept of pig butchering, if not aware that it’s a growing problem with widespread consequences. However, what most won’t know is that pig butchering is expanding so quickly and minting new millionaires so fast that it’s given rise to two entirely new industries: escrowing for pig butcherers and selling hostages onward from one pig butcher to another. How does pig butchering work? If you’re unfamiliar with what pig butchering is, it’s a diabolical and violent scam that works like this: An individual, usually from China, but occasionally from Eastern Europe or Southeast Asia, is lured to Southeast Asia (the biggest offenders reside in Cambodia, Laos, Thailand, and Myanmar) with promises of a job offer or modeling work. Once the person arrives in Southeast Asia, they’re hurriedly shuffled to a remote village or city where they’re taken hostage. Sometimes this even means they’re shackled and not allowed to go outside. Upon being taken hostage the individual is forced to bait Westerners into giving them crypto through romance scams, jobs offers, or other means. As this is happening, the hostage’s family is told that their loved one has been taken and a ransom is demanded for their freedom. The ransom is usually too large for the family to afford. Read more: Project Brazen links KuCoin to billions in pig butchering scams A new business is born The pig butchering industry has grown rapidly over the past five years, with billions of dollars flowing into Southeast Asia via scam centers with thousands of hostages being held. These massive buildings and industrial parks openly operate without threat of being shut down due to the government officials they’re able to bribe and the taxable revenue they bring in. Most often, the leaders…

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Filed under: News - @ March 5, 2026 2:22 pm