Pig butchering is a fraudulent crypto scheme where bad actors build relationships and gain the trust of their victims to later encourage them to buy into fake investment opportunities. The FBI says that an initiative called “Operation Level-Up” aims to save victims from losing their money by using sophisticated techniques to identify people who are actively being defrauded.

The Federal Bureau of Investigation (FBI) has announced a new anti-scam initiative, Operation Level Up, stating that it has saved around $285 million for potential victims. The agency disclosed this in a press release on February 13 while acknowledging the prevalence of this type of scam.