Alabama securities regulators have successfully recovered over $125,000 in cryptocurrency for two residents who fell victim to 'pig butchering' romance scams, which collectively cost them nearly $580,000. One victim, from Baldwin County, lost approximately $185,000 after being persuaded to invest in a fraudulent trading platform through the Bumble dating app. Another victim from Etowah County was defrauded of $395,000 by a scammer impersonating a legitimate firm on WhatsApp. 'Pig butchering' scams, which exploit victims emotionally and financially, have surged in popularity, accounting for a significant portion of the $9.9 billion lost to global crypto fraud in 2024. The Alabama Securities Commission noted that the number of crypto-related scams continues to rise, urging immediate reporting to improve chances of recovery.

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