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The recent action on student debt is fodder for spam callers, who often try to trick borrowers into paying for loan cancellation.
Named “pig butchering”, scammers, under this, pose as long-lost school friends or potential lovers and con their victims by building up trust, manipulating them into depositing their crypto assets into fake trading platforms controlled by the perpetrators.
A 271,000-word WhatsApp conversation between a Bay Area man and his scammer reveals the heartbreaking mechanics of a new breed of investment racket. Experts believe the global losses are in the billions.
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