DOJ Issues Valentine’s Day Alert on Rising Pig-Butchering Crypto Scams

TheNewsCryptoPublished on 2026-02-13Last updated on 2026-02-13

Abstract

Federal prosecutors are warning the public about a significant rise in "pig-butchering" crypto scams, especially around Valentine’s Day. These scams involve criminals building emotional trust with victims over weeks or months via dating apps or social media before introducing fake crypto investment opportunities. After victims deposit funds—often large sums—scammers disappear. The DOJ links these schemes to organized crime in Southeast Asia, using complex methods like shell companies to launder stolen crypto, making recovery difficult. Last year, authorities seized $225 million in one of the largest such recoveries. Experts advise researching companies thoroughly before investing and remaining cautious of unsolicited crypto investment pitches.

U.S. federal prosecutors are warning U.S. citizens ahead of Valentine’s Day, which has become the key period for romance-related cryptocurrency frauds, which end with victims losing millions of dollars through cryptocurrency. Authorities say these fraud activities take place through mixing emotions with fake investment online opportunities, commonly known as the “pig butchering” method.

How Pig Butchering Scams Work

Authorities say these types of fraud are done slowly and calculatedly. Scammers typically start contacting the victim through dating apps or social media. They act as caring and build trust for weeks or even months, and then introduce a crypto investment opportunity, which is a fake trading website. Scammers allow even a small amount initially to make the website real, and then they make the victims invest large amounts. Once they invested the money, the scammer would disappear by taking the whole amount from the victim.

Official warns victims

Officials warn the victims that they should be suspicious if someone starts chatting on WhatsApp and pushes to request a payment in crypto by building trust. U.S. authorities say that these scams are linked to organized crime groups that run in Southeast Asia. According to the investigators, stolen crypto is rapidly moved through exchanges, and funds are cleaned through shell companies, which are later converted into properties or hidden accounts and are extremely difficult to recover.

Last year, the U.S. Department of Justice seized around $225 million in Tether (USDT), which is connected to these pig butchering scams, which is one of the largest crypto fraud recoveries ever attempted. Experts say that these victims are manipulated through emotion, and they feel they are learning from a mentor and building the future. So they advise staying safe, and before sending the money through crypto, they should research the company and check if it is licensed with good independent reviews.

Law enforcement sees pig butchering scams as one of the largest growing financial crimes in crypto history. Right now, it has evolved into organized operations, professional call centers, and international laundering networks.

Highlighted Crypto News:

U.S. Spot Bitcoin ETFs End Three-Day Inflow Streak with $276M Outflows

iQiyi Is Too Impatient

The article "iQiyi Is Too Impatient" discusses the controversy surrounding the Chinese streaming platform IQiyi's recent announcement of an "AI Actor Library" during its 2026 World Conference. IQiyi claimed over 100 actors, including well-known names like Zhang Ruoyun and Yu Hewei, had joined the initiative. CEO Gong Yu suggested AI could enable actors to "star in 14 dramas a year instead of 4" and that "live-action filming might become a world cultural heritage." The announcement quickly sparked backlash. Multiple actors named in the list issued urgent statements denying they had signed any AI-related authorization agreements. This forced IQiyi to clarify that inclusion in the library only indicated a willingness to *consider* AI projects, with separate negotiations required for any specific role. The incident, which trended on social media with hashtags like "IQiyi is crazy," is presented as a sign of the company's growing desperation. Facing intense competition from short-video platforms like Douyin and Kuaishou, as well as Bilibili and Xiaohongshu, IQiyi's financial performance has weakened, with revenues declining for two consecutive years. The author argues that IQiyi is "too impatient" to tell a compelling AI story to reassure the market, especially as it pursues a listing on the Hong Kong stock exchange. The piece concludes by outlining three key "AI questions" IQiyi must answer: defining its role as a tool provider versus a content creator, balancing the "coldness" of AI with the human element audiences desire, and properly managing the interests of platforms, actors, and viewers. The core dilemma is that while AI can reduce costs and increase efficiency, it risks creating homogenized, formulaic content and devaluing human performers.

marsbit44m ago

Jensen Huang Publicly Challenges Google and Amazon, Is the Chip Business Entirely Sustained by Anthropic?

In a candid interview, Nvidia CEO Jensen Huang challenged competitors like Google and Amazon, admitted past strategic errors, and criticized U.S. export controls on AI chips. He framed Nvidia’s role as turning “electricity in, tokens out,” emphasizing the complexity and value of AI inference. Huang dismissed rival custom chips like Google’s TPU and Amazon’s Trainium as inflexible and niche, claiming their growth relies heavily on clients like Anthropic. He also acknowledged missing early investment opportunities in OpenAI and Anthropic. On China, Huang warned that export restrictions risk pushing the country toward self-sufficiency and could cost U.S. leadership in AI. Finally, he explained Nvidia’s acquisition of Groq as a move to serve premium, low-latency token markets. Throughout, Huang emphasized ecosystem trust and Nvidia’s central role in global AI infrastructure.

marsbit49m ago

Jensen Huang Publicly Challenges Google and Amazon, Is the Chip Business Entirely Sustained by Anthropic?

marsbit49m ago

ARK's SpaceX IPO Investment Guide: $1.75 Trillion Valuation, 95x Price-to-Sales Ratio, Where Is the Money Going?

ARK Invest, a major investor in SpaceX, provides an analysis following SpaceX's confidential IPO filing on April 1, 2026, targeting a $1.75 trillion valuation and up to $75 billion in funding for a Nasdaq listing around June 2026. This would be the largest IPO in history. The valuation implies a price-to-sales ratio of ~95x based on ~$18.5B in projected 2025 revenue. ARK argues this reflects future potential, not current reality. Key drivers include Starlink, with over 10M users and $20B+ in 2026 revenue, launch services which have reduced costs by ~95% since 2008, and the strategic merger with xAI in February 2026, enabling vertically integrated AI and orbital computing. ARK’s investment thesis is based on SpaceX's proven execution of ambitious goals, like reusable rockets and global satellite internet. The firm notes that significant value creation often occurs pre-IPO, and its Venture Fund offers exposure to SpaceX’s earlier private stages. Post-IPO, the fund will manage the position per standard lock-up and rebalancing processes, maintaining flexibility to reinvest in other private innovations. The analysis is based on public estimates and ARK research; the S-1 filing is not yet public. This is not investment advice.

marsbit51m ago

ARK's SpaceX IPO Investment Guide: $1.75 Trillion Valuation, 95x Price-to-Sales Ratio, Where Is the Money Going?

marsbit51m ago

Stablecoin Hype Overblown? Moody’s Says Banks Aren’t In Danger

The article discusses the legislative stalemate in the US over the Digital Asset Market Clarity Act of 2025 (CLARITY Act), which aims to regulate crypto assets. A key point of contention is whether stablecoins should be allowed to pay interest, with crypto companies opposing a ban and banks supporting it. Moody's analyst Abhi Srivastava states that, for now, stablecoins do not pose a significant threat to traditional banks due to existing efficient payment systems and the current prohibition on yield-bearing stablecoins. This limits their appeal for pulling deposits from banks at scale. However, with the stablecoin market cap exceeding $300 billion and growth in tokenized assets, banks could face future pressure from deposit outflows. The crypto industry warns that failure to pass the bill could lead to stricter regulatory crackdowns. Negotiations continue with little progress, despite both sides desiring a resolution.

bitcoinist1h ago

Stablecoin Hype Overblown? Moody’s Says Banks Aren’t In Danger

bitcoinist1h ago

Not a Price Hike, but a Supply Cut? Oil Prices Have Crossed the Tipping Point

The global oil market has passed a critical point, shifting the focus from price increases to potential physical supply shortages. The core issue is a time mismatch: even if the Strait of Hormuz reopens, shipping disruptions have already caused significant delays, which will continue to deplete onshore crude inventories for weeks. Refinery behavior acts as an amplifier. Reduced runs in Asia and Europe don’t reflect weaker demand but instead shrink product inventories, raising fuel prices and refining margins, which in turn encourages higher runs—creating a self-reinforcing cycle. If the Strait remains closed beyond April, traditional pricing models may fail. The market could face an unprecedented physical shortfall of 11-13 million barrels per day—roughly four times historical disruption levels. In such a scenario, price becomes an inadequate balancing tool. The only way to rebalance the market would be policy-driven demand destruction, similar to COVID-era lockdowns. Current prices around $95/barrel are insufficient to balance the market. Key signals to watch include inventory levels, policy announcements, and the pace of involuntary demand contraction. Geopolitically, the situation appears likely to worsen before improving, with little room for compromise between the US and Iran.

marsbit3h ago

Not a Price Hike, but a Supply Cut? Oil Prices Have Crossed the Tipping Point

marsbit3h ago

Trading

Spot

Futures

Hot Articles

In-Depth Research Report on Account Abstraction (AA): Generational Leap in Ethereum’s Account System & Landscape Reshaping in the Next Five Years

As a major evolution of Ethereum’s account system, AA is designed to address the fundamental security and experience bottlenecks of the “private key equals account” model in the EOA era.

3.3k Total ViewsPublished 2025.12.18Updated 2025.12.18

In-Depth Research Report on Account Abstraction (AA): Generational Leap in Ethereum’s Account System & Landscape Reshaping in the Next Five Years

Hot Tokens Learning Week 7: Privacy Coins Rally in Rotation, with RIVER Standing Out as 2026’s Surprise Performer

The privacy + payments narrative has been the primary catalyst driving rotation and substantial price gains in privacy coins such as DASH and XMR.

16.3k Total ViewsPublished 2026.01.20Updated 2026.01.20

Hot Tokens Learning Week 7: Privacy Coins Rally in Rotation, with RIVER Standing Out as 2026’s Surprise Performer

Hot Tokens Learning Week 8: ADA's Ouroboros Leios Mainnet Expected to Launch in 2026

ADA's Ouroboros Leios mainnet is expected to launch in 2026, and the hard fork to Protocol Version 11 is planned for Q1 2026.

40.0k Total ViewsPublished 2026.02.10Updated 2026.02.12

Hot Tokens Learning Week 8: ADA's Ouroboros Leios Mainnet Expected to Launch in 2026

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of S (S) are presented below.