"Pig Butchering Scams Are Evolving Fast"
Pig butchering scams have already resulted in the theft of hundreds of millions of dollars. Although attackers, primarily crime groups in China, have written scripts and playbooks for carrying out the attacks, new discoveries from researchers at the security firm Sophos reveal how pig butchers are modifying and refining their techniques to trap more victims. In order to remain relevant and capture new victims pig butchering attacks have implemented both more convincing narratives to attract targets and more advanced technology to convince victims that they can make a lot of money. Even before these improvements, the scheme was lucrative. In 2021, the FBI's Internet Crime Complaint Center received over 4,300 reports of pig butchering scams resulting in over $429 million in losses. Sean Gallagher, a senior cybersecurity researcher at Sophos tracked two pig butchering scam campaigns that had targeted his personal accounts and devices. Beginning in October 2022, he engaged the scammers via Twitter Direct Messages (DMs) and SMS text messaging to see where the scheme would lead him. This article continues to discuss findings and observations from the investigation of two pig butchering campaigns led by Gallagher.