Chainalysis has revealed discoveries regarding KK Park, Myanmar’s notorious pig butchering facility, where $100 million was stolen by coercing the families of its workers into transferring cryptocurrency.

Approximately 2,000 trafficked workers are believed to be present there. The report details how the facility would extort the families of trafficked workers. This was done through demanding crypto in exchange for their loved ones’ freedom.

Romance Scam Leads to $100M in Stolen Crypto

A recent report indicates that the two ransom wallet addresses are linked to a Chinese front company belonging to a pig butchering gang operating out of KK Park.

“We know that they take crypto payments from scam victims. But Heintz also told us that pig butchering gangs will often tell the families of trafficked workers to pay them ransoms in exchange for their family member’s freedom — those payments also often happen in cryptocurrency.”

Chainalysis presents a graph outlining that two main ransom addresses receive the majority of funds. One of these addresses receives funds from scams like pig butchering schemes. Meanwhile, the other receives crypto from family members of human trafficking victims.

Go to Source to See Full Article
Author: Ciaran Lyons

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details