The New Jersey Bureau of Securities has issued a cease and desist order to the owners of three websites, instructing them to stop attempting to con people who are looking for love into investing in their fraudulent cryptocurrency scams. The order was issued in response to the New Jersey Bureau of Securities' discovery that the owners of these websites were targeting people who were looking for love. The New Jersey Bureau of Securities made the finding that the websites were specifically targeting persons who were interested in romantic relationships, which led to the issuance of the order. The New Jersey Bureau of Securities conducted an investigation into the websites in question, and based on the results of that investigation, the agency made the decision to issue the order.
The orders to cease and desist were reportedly sent to the firms Meta Capitals Limited, Cresttrademining Limited, and Forex Market Trade, as stated in a press release that New Jersey Attorney General Matthew Platkin released on February 3rd. The office of the state's Attorney General made the statement that was issued by Platkin available to the general public for viewing.
The three companies all pretended to be platforms for trading cryptocurrencies, and they convinced their customers that they would be able to significantly increase the amount of money that they had in their accounts if they simply replicated the actions taken by the "expert traders" employed by the companies. However, the customers lost all of their money because the companies were only pretending to be platforms for trading cryptocurrencies.
By contacting individuals who are using dating apps like Tinder to hunt for love connections, these organisations recruit fresh victims for a scam that is frequently referred to as "pig slaughtering."
Con artists will contact prospective victims on social media, attempt to build a romantic relationship with them, and when they have gained the confidence of their victims, they will try to trick them into investing in a fake bitcoin investment plan. This kind of fraudulent behaviour that takes place online is referred to as "pig butchering," and it has its own moniker.