
Connecticut Resident Recovers $180K Lost in 'Pig Butchering' Crypto Scam
State Police Successfully Retrieve Funds from Fraudulent Investment Scheme
Investigators have successfully recovered nearly $180,000 for a Connecticut resident who fell victim to a cryptocurrency scam known as ‘pig butchering’. This type of fraud, which has become increasingly prevalent, involves scammers gaining victims’ trust over time before convincing them to invest large sums of money in fraudulent platforms.
The victim, who has chosen to remain anonymous, was manipulated into transferring over $225,000 to a fake cryptocurrency trading platform called ‘XeggeX’. The scammers, posing as experienced financial advisors, built a relationship with the victim over weeks before persuading them to invest in what appeared to be a lucrative opportunity.
Believing they were engaging in high-yield crypto trades, the victim continued depositing funds, only to later discover that withdrawals were blocked and customer support was unresponsive.
Investigation and Recovery of Funds
Upon realizing the deception, the victim reported the crime to Connecticut State Police, who launched a detailed investigation with the help of cybersecurity specialists and blockchain forensic experts. By tracing the movement of funds through blockchain analysis, authorities identified wallet addresses linked to the scam.
After securing a court order, police successfully retrieved a significant portion of the stolen funds in Bitcoin, returning approximately $180,000 to the victim. While a portion of the stolen money remains unrecovered, officials believe this case highlights the growing capabilities of law enforcement in tracking cryptocurrency transactions.
Law enforcement officials emphasize that ‘pig butchering’ scams are growing, with many criminals leveraging social media, messaging apps, and dating platforms to target individuals. These schemes typically involve:
Long-term manipulation of victims through deceptive trust-building tactics.
Fake trading platforms designed to resemble legitimate cryptocurrency exchanges.
Convincing victims to reinvest their earnings, while restricting access to funds.
Authorities are urging individuals to remain cautious when approached with cryptocurrency investment opportunities. To prevent falling victim to such scams, residents should:
Be skeptical of unsolicited financial advice, especially from online connections.
Verify investment platforms before depositing any funds.
Avoid sending cryptocurrency to unknown individuals or entities.
Consult licensed financial professionals before making major investment decisions.
State officials continue to encourage the public to report any suspected fraudulent activity to law enforcement. Connecticut law enforcement agencies are also working with federal and international cybercrime units to track down and dismantle criminal networks engaging in cryptocurrency-related fraud.
While recovering stolen cryptocurrency remains a complex challenge, this case demonstrates that with the right expertise and resources, authorities can successfully intervene and restore stolen funds.
The successful retrieval of $180,000 in Bitcoin serves as a significant milestone in the fight against crypto fraud. As digital asset scams continue to evolve, law enforcement and financial regulators are doubling down on their efforts to educate the public, enhance security measures, and bring perpetrators to justice.
For investors, the key takeaway remains clear: Exercise extreme caution when dealing with cryptocurrency investments, and always verify the legitimacy of any trading platform before transferring funds.
02/12/2025

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