State police help recover $180,000 in cryptocurrency ‘pig butchering’ scam
WILLIMANTIC, CT (WFSB) – State police said they were able to recover and return $180,000 lost in a cryptocurrency scam.
Troopers said their “State Police Cryptocurrency Working Group” returned the money to a Willimantic resident who fell victim to an international investment fraud scam.
They said the investigation began in July 2024 when the victim received unsolicited text messages from an individual who claimed to be a successful cryptocurrency investor.
“Through sophisticated social engineering tactics, the scammer convinced the victim to transfer over $225,000 into a fraudulent investment platform called ‘XeggeX,’” state police said.
The “investor” then disappeared with the funds.
Working in collaboration with a compliant cryptocurrency exchange platform, investigators said they were able to intercept and recover approximately 1.77 Bitcoin from the fraudulent wallet address.
The funds were safely returned to the victim on Feb. 12, 2025 under court order.
“This case, along with other ‘pig butchering’ scams are part of a larger transnational organized crime operation that has caused over $75 billion in losses globally,” state police said. “These scammers are operating sophisticated fraud factories across southeast Asia, targeting victims worldwide, including here in Connecticut.”
State police said these are the warning signs of cryptocurrency investment scams:
- Unsolicited investment advice through text messages or social media
- Pressure to move conversations to WhatsApp or other messaging apps
- Claims of guaranteed high returns with no risk
- Romantic manipulation combined with investment pressure
- Requests to transfer money through cryptocurrency
- Professional-looking investment platforms with no point of contact
State police urged anyone who believes they may be a victim of a cryptocurrency scam to immediately contact their group at csp.virtualcurrency@ct.gov or their local police department.
“Early reporting is critical for these investigations,” state police said.
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