The New Jersey Securities and Futures Bureau has ordered three network operators to stop luring romantic victims to participate in their fraudulent digital currency financing programs.

According to a press release from New Jersey Attorney General Michael Platkin on Feb. 3, the three companies hit by the termination order are Meta Capitals Limited, Crest registered Trademark Co., Ltd., and Foreign Exchange Market Trading Co., Ltd.

All three companies claim to be cryptocurrency trading service platforms, and they will also tempt the victim to copy his "authoritative expert trader" trading transactions, so that he can get a good return.

Through so-called "pig slaughtering" scams, such companies lend a helping hand to people looking for romance according to tryst apps such as Tinder, leading to victims.

Pig slaughtering is a hoax in which Internet suspects use social networks to contact victims, fan a romantic connection, and then lure them into a fraudulent digital currency financing scheme after they are trusted.

Pratkin says they have been trying to protect New Jersey residents who have been lured into project investment scams:

"those fraud companies have established a friendship between them and their victims-all in order to squeeze as much of their money as possible and promise a high rate of return."

Pratkin added: "We are working tirelessly to protect the victims of this fraud and to show such fraudsters that our own laws and regulations still apply to the online environment."

Cari Fais, the agent in charge of our customer management department, hopes that law enforcement actions will be confirmed in the future, and that he will "catch fraudsters who lead the trust of the masses."

The crackdown came as the US fbi (United States Federal Bureau of Investigation, commonly known as FBI) reported that slaughterhouse fraud alone caused a cumulative $429 million in damage to about 4300 victims in 2021 alone. Statistics for 2022 have not yet been released.

Alice Coppton, director of securities, shows that the slaughterhouse scam is very effective for fraudsters and that their target groups are already at a disadvantage:

"it is difficult for even the smartest investors to identify fraud because it is carried out through their lovers."

Our bureau stated that companies hit by the termination order were also found to have violated New Jersey securities laws by providing and selling unregistered securities.

In addition, Meta Capitals Limited and Crest registered Trademark LLC have also been found to operate as unregistered broker dealers.

The scams of the slaughterhouse are not only rampant abroad.

According to a recent survey by the US Research Information Office, about half of the 168 foreign exchange investment companies engaged in fraud are related to similar pig slaughtering scams.