Alabamian Loses $222K in 'Pig Butchering' Crypto Scam

A retired man from Florence, Alabama lost his life savings to a 'pig butchering' crypto scam.

The scammers, who used the name 'Bella,' targeted him on Telegram and convinced him to invest in cryptocurrency through Coinbase.

'Bella' then guided the victim through transferring money from his bank account into a Coinbase account and eventually into fraudulent wallets.

Over $222,000 in USDT was laundered through multiple exchanges before it was seized under a federal warrant.