Police in Namibia recently arrested 20 individuals who are accused of running a so called "pig butchering" cryptocurrency scheme which targeted U.S. citizens. According to the police, the more than 80 young Namibians who worked for the scammers were promised a monthly salary of $160.
Young Namibians Recruited
The Namibian police are reported to have arrested and detained 20 individuals accused of operating a pig butchering cryptocurrency scheme. The accused, who include 11 Chinese nationals, face charges that range from human trafficking, fraud, money laundering and tax evasion.
According to a report in the Informante, individuals and corporations are among the more than 200 victims identified by police so far. Elias Mutota, the deputy inspector general of the Namibian police, said more than 80 young Namibians were recruited by the scammers. Mutota added that the young Namibians were promised a salary equivalent to $160 (N3,000 in local currency).
Explaining how the 20 operated the scam, the inspector general said:
"The suspected foreign nationals equally controlled the electronic wallet. They also provided the students with accommodation, paid them in cash, and transported them to and from the call centre, where they worked exclusively at night from 17:00 PM until the next morning at 6:00 AM. This night operation aimed to convince the USA clients that they were indeed in the USA, given the hours of transactions."
As stated in the report, they would convince victims to invest a certain before abruptly ending communication. After that, the scammers would then withdraw the cryptocurrency at two Bitcoin Kiosks.
Following the arrests, the Namibian police reportedly recovered 163 computers, 350 mobile phones, six vehicles, 12 firearms, ammunition and cash equal to just under $19,500. With respect to the young Namibians who were used by the scammers, Mutota said they would either be charged or testify against the scammers.
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Source: Bitcoin.com
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