Meta Shuts 6.8 Million WhatsApp Accounts Tied to Crypto Scams

Meta has removed over 6.8 million WhatsApp accounts linked to "pig butchering" cryptocurrency scams, a type of fraud where victims are tricked into investing money into fake schemes, only to find their funds inaccessible later [1]. These accounts were tied to organized crime syndicates operating in Southeast Asia, particularly in Cambodia, Myanmar, and Thailand, where mass fraud campaigns are frequently reported [1]. The accounts were proactively detected and removed before they could be fully operationalized by the scam networks, according to Meta.

"Pig butchering" scams typically begin with unsolicited messages that gradually evolve into private conversations, often moving to encrypted platforms or private chats. The ultimate goal is to deceive victims into transferring money—usually in cryptocurrency—into fake investment platforms or businesses [1]. The term reflects how scammers build trust with victims over time before ultimately draining their accounts.

In an effort to enhance user protection, WhatsApp has introduced new safety features, including a system that alerts users when they are added to a group by someone not in their contact list. This feature aims to flag a common tactic used by fraudsters to promote fake investment schemes [1].

The removal of these accounts comes amid a broader rise in online fraud. According to the FBI’s Internet Crime Complaint Center (IC3), $9.3 billion was lost to online scams in 2024, with over $3.9 billion attributed to cryptocurrency-related fraud [1]. Many of these scams originate on messaging platforms like WhatsApp, Facebook Messenger, and Telegram, underscoring the role of digital communication tools in the proliferation of such crimes.

Meta has also collaborated with other entities to combat fraud. For instance, the company worked with OpenAI to disrupt a Cambodian-based group that used AI to craft investment pitches and lure victims into a pyramid scheme involving rented scooters [1]. The scammers reportedly used ChatGPT to create persuasive messages and offered fake monetary rewards to users in exchange for social media engagement.

Despite these efforts, critics argue that platforms like Meta lack the financial incentive to fully tackle the problem. Scam-related advertising generates revenue for these companies, creating a potential misalignment in priorities [1]. Greg Williamson, senior vice president of fraud reduction at the Banking Policy Institute, has pointed out that tech platforms have the capability to prevent abuse but often fail to act decisively [1]. He cited an ongoing case in which Meta was accused of allowing over 230,000 scam ads featuring a deepfake of an Australian billionaire to run on its platforms [1]. Scammers also exploit these platforms by purchasing ads to spread deceptive content, making enforcement more complex.

While Meta’s recent enforcement actions represent a significant step in disrupting scam networks, they also highlight the persistent and evolving nature of the threat. Scammers are increasingly using advanced tools like AI to craft convincing pitches and impersonate legitimate businesses. As the use of cryptocurrency and social media continues to expand, so too does the potential for fraud, emphasizing the need for more systemic and comprehensive measures to safeguard users.

Source:

[1] Decrypt, [https://decrypt.co/333764/meta-6-8-million-whatsapp-accounts-pig-butchering](https://decrypt.co/333764/meta-6-8-million-whatsapp-accounts-pig-butchering)