How the 'pig slaughter scam' works, a fraud that made a retiree lose R$37 million in false investments in RS

Retiree loses R$37 million in fake investment platform scam in RS The fraud that made a retired woman aged around 70 lose more than R$37 million in Rio Grande do Sul was built over six months, according to the Civil Police. The strategy, known internationally as the “pig slaughter scam”, uses trust, false promises of profit and pressure for new contributions until the moment the victim tries to withdraw the money. The case is investigated by the State Department for the Suppression of Cybercrimes (DERCC). This Thursday (13), the Civil Police launched Operation Criptoabate in Rio Grande do Sul and São Paulo against suspected members of a criminal organization investigated for embezzlement through electronic fraud and money laundering. ? Access the g1 RS channel on WhatsApp According to the director of operations at DERCC, delegate Filipe Bringhenti, the scam gets its name because criminals gradually increase the value extracted from the victim before cutting off contact. “The strategy is to increase the profit extracted from the victim until the moment when this is no longer sustainable, and the slaughter will correspond to the moment when contact is cut,” he stated. In the case investigated, the victim was included in messaging groups that simulated study and investment communities in the financial market. In these environments, criminals presented analyses, financial guidance and supposed positive results. According to police, the structure also included a well-developed application and website, used to give the scheme an appearance of credibility. The victim monitored a virtual balance that grew over time, as if the investments were generating real profit. With this false perception of gain, she was encouraged to make increasingly larger deposits. The blockage occurred when the retiree tried to withdraw the amounts. From that moment on, criminals began to demand new payments, presented as fees, taxes or amounts necessary to release the assets. Each new deposit was followed by another justification. Thus, the victim continued transferring resources in the expectation of recovering the money he believed he had already invested. The head of the Cybercrime Department, delegate Eibert Moreira, informed that the amounts invested by the retiree were from an inheritance she received. According to the delegate, she was already making investments and had an aggressive profile, with a preference for higher-yield assets. According to Moreira, the victim had an investment broker, who advised her against making large investments in risky investments. Then, she withdrew the money she kept in a regular brokerage and transferred the funds to the fake platform. The investigation shows that, after leaving the fake brokerage, the money was distributed through bank accounts and converted into crypto assets. According to the police, this movement makes it difficult to recover valuables. The Civil Police identified at least 140 potential victims inserted in digital environments related to the same dynamics. The investigation also targets entrepreneurs in the cryptoactive sector and people suspected of operating accounts used to move money. According to the police, those investigated pretended to be employees of a company identified as TDASX, which closed after the investigations began. g1 tried to contact those responsible for TDASX, but had not located them until the last update of the report. The police's guidance is to be wary of promises of profitability far above the market, platforms without verifiable credentials and requests for new deposits to release amounts that would have already been invested. Retired woman loses R$37 million in fake investment platform scam; police carry out operation in RS and SP Civil Police VIDEOS: Everything about RS