Episode 45 of the Public Key podcast is here! In this episode, we go coast to coast to talk to public sector heroes, Erin West (Deputy District Attorney, Santa Clara County, Office of the District Attorney) and Alona Katz (Deputy Bureau Chief of the Cybercrime and Identity Theft Bureau, Manhattan District Attorney’s Office), who are combating the emerging pig butchering crypto scams that have been victimizing people around the world.
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Public Key Episode 45 preview: Law enforcement collaboration to combat pig butchering crypto scams
A multi-billion dollar scam operation that incorporates industrial-scale scam centers, human trafficking, fake cryptocurrency investment websites, and cryptocurrency. Pig butchering is emerging as a serious priority for law enforcement who are seeing victims lose their life savings to fraudsters that may be victims themselves.
In this episode, Ian Andrews (Chief Marketing Officer, Chainalysis) is joined by cybercrime-savvy public sector heroes, Erin West (Deputy District Attorney, Santa Clara County, Office of the District Attorney) and Alona Katz (Deputy Bureau Chief of the Cybercrime and Identity Theft Bureau, Manhattan District Attorney’s Office), who give the victim perspective of these complex crypto-related crimes.
Alona and Erin explain how victims are being taken advantage of and how public-private partnerships and law enforcement coalitions are collaborating to combat this billion-dollar industry. They share heartbreaking stories from victims, but also give practical tips on how law enforcement and the general public can do their part in the fight against these investment scams.
Quote of the episode
“The thing that we, that I’m sure Alona has seen too with cryptocurrency, is you need a lot of partners. This is not something that one investigator can do by themself. You need private partners, you need public partners, you need local law enforcement. You need federal law enforcement, and the idea of putting together task forces, smaller task forces nationwide, I think is a great way to tackle this.” – Erin West (Deputy District Attorney, Santa Clara County, Office of the District Attorney)
Minute-by-minute episode breakdown
- (2:45) – How Erin and Alona got into the public sector and their first experience with cryptocurrency on the job
- (5:35) – How are the victims of pig butchering lured in by scammers, and are victims underreporting this crime?
- (18:00) – The REACT Task Force and how law enforcement is collaborating to counter Pig Butchering schemes
- (22:03) – Crypto is more recoverable than some law enforcement might think but victims have to be cautious of third-party recovery services
- (30:15) – How to navigate international jurisdictions where legislation and governments may not be as cooperative
- (33:56) – The best advice for protecting yourself against pig-butchering crypto scammers
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
- Podcast: [CHAINALYSIS PODCAST EPISODE 19] Pig Butchering Crypto Scam: Crypto’s Emerging Human Trafficking And Romance Scam Industry
- Report: The Chainalysis 2023 Crypto Crime Report
- Conference: Chainalysis Links Conference 2023 in New York City
- Forbes Article: Cryptocurrency Scam Victim Who Lost Over $1 Million To Get Over $100,000 Back, Prosecutor Says
- Cybercrime Hotline: Manhattan DA Office – Cybercrime and Identity Theft Hotline – 212-335-9600
- Unchained Podcast (Laura Shin): How This Prosecutor Is Spearheading the Fight Against Crypto ‘Pig Butchering’ Scams – Ep. 455
- Twitter: Chainalysis Twitter: Building trust in blockchains
- TikTok: Newly launched Chainalysis TikTok page
- YouTube: Chainalysis YouTube page is completely revamped
- Website: Careers at Chainalysis – Join us today
Speakers on today’s episode
- Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
- Erin West (Deputy District Attorney, Santa Clara County, Office of the District Attorney)
- Alona Katz (Deputy Bureau Chief of the Cybercrime and Identity Theft Bureau, Manhattan District Attorney’s Office)
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