Pig Butchering, a form of romantic fraud in which victims prepare to send money to falsify cryptographic investment schemes, has become a multimillion -dollar industry, according to the 2025 typologies report of the Blockchain Elliptic analysis firm.
The study points to increasingly organized methods to wash stolen funds using practices that resemble professional financial operations.
Elliptical researchers found that scammers often group the deposits of the victims in the autosted wallets used only to consolidate and move funds. From there, money flows through transactions chains designed to obscure its origin, sometimes passing through cross -chain bridges or payment processing services that offer an appearance of legitimacy.
A common tactic implies the use of mule accounts on regulated cryptographic platforms. These accounts often share suspicious markers, such as identical residential addresses, repeated IP session and transfers between accounts.
Photos sent for compliance verifications sometimes show operators that work outside the calls or warehouse centers in Southeast Asia countries where it is known that pig grim operations originate.
The report emphasizes that, unlike cash -based crime, Blockchain leaves visible transaction paths. This transparency provides regulators and platforms new tools to detect suspicious activities even when scammers refine their methods.
Elliptical also warns that pork butcher shop is just a piece of a broader image. The report also detailed how the people who face official sanctions are increasingly resorting to Stablecoins for cross -border transactions.
