Last week, the California Department of Financial Protection & Innovation announced that it has launched a "Crypto Scam Tracker". According to the DFPI, the Crypto Scam Tracker is "a database that is searchable by company name, scam type, or keywords to learn more about the crypto specific complaints the DFPI has received". Currently, there are 36 scams listed in the tracker. The database is derived from consumer complaints and the DFPI has not verified the losses reported by complainants. There is an accompanying glossary which provides explanations various scams, such as "pig butchering" and "rug pull" scams.
The colorful name "pig butchering" scam is derived from the Chinese, 殺豬盤. The reference is to a scam in which the fraudster builds trust and hence "fattens up" the victim before taking their money.