CandleFocus US citizen files lawsuit over pig butchering crypto scam
2024-10-03
Author: Content Editor
A US citizen, Hector Gustav Gutierrez, has filed a lawsuit against Yan Shi Zhang, also known as "1," in the District Court of California over an alleged pig butchering scam in Southeast Asia. Gutierrez claims to have lost $2.1 million in Bitcoin tokens due to the scam orchestrated by a crime syndicate. The scam involved fake websites of real crypto exchange platforms, which were used to lure victims, simulate trading, and steal their funds. Gutierrez met Zhang's niece through LinkedIn in September 2023, and Zhang promised to teach him successful crypto trading. Zhang convinced Gutierrez to sign up for the fake US-based cryptocurrency exchange Kraken, resulting in the loss of 33 BTC. The lawsuit highlights the global reach and impact of cryptocurrency scams, with an FBI report revealing that Americans lost $5.6 billion in crypto scams in 2023.
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