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A victim of a crypto ‘pig butchering’ scam just got his $140,000 back

Published

1 year ago

October 4, 2024

A victim of a crypto ‘pig butchering’ scam just got his 0,000 back

The office of Massachusetts Attorney General Andrea Joy Campbell, pictured here, sued a crypto scam company known as SpireBit and seized its assets. The proceeds have now been handed back to victims of the scheme.

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Charles Krupa/AP

Aleksey Madan never thought the day would come.

This week he received a $140,000 check in the mail from Massachusetts officials. That was the full amount Madan had lost after falling for a get-rich-quick crypto scam.

He lost $340,000 to a crypto scam. Such cases are on the rise

“How would you feel if all your money was stolen and you never expected to get it back, then you did?” said Madan, 69. “It feels amazing. I’m overjoyed. And also in shock.”

Those funds were among the hundreds of thousands of dollars’ worth of cryptocurrency Massachusetts authorities seized from a fraudulent operation that targeted Russian-speaking seniors online and, in some cases, stole their life savings.

The Massachusetts Attorney General’s Office began investigating the company, known as SpireBit, followed an NPR investigation last year detailing the stories of two victims who were lured into an investment scheme, only to realize it was a sham after they transferred large quantities of money into SpireBit’s cryptocurrency wallets.

SpireBit drew victims into its ruse by using ads on social media promising lucrative investment returns. SpireBit took out ads on Facebook and Instagram that falsely portrayed Elon Musk as endorsing the company through a Russian voice-over.

But NPR could find no trace of a real investment company: The people listed as the company’s executives turned out to be just stock photos and fake LinkedIn profiles. A supposed London address for SpireBit turned out to be a kitchenware business. When victims tried to withdraw their money, the company sent them forged bank documents. After NPR’s reporting, financial regulators in the United Kingdom issued a public warning about SpireBit, classifying it as an operation run by “fraudsters.”

When NPR tried to reach out to SpireBit for comment last year, it responded through the Telegram messaging app by stating that crypto trading is volatile, and saying “the activities of our company are regulated according to the legislation of the country in which the head office of the company is located.” Now, that account has been deleted.

NPR’s investigation caught the attention of Massachusetts authorities, who in December sued SpireBit under its incorporated entity known as SBT Investments.

Investigators posed as a SpireBit customer and were able to pinpoint crypto wallets used by SpireBit. In a judgment issued in May, state officials won a court order that froze the company’s assets on the trading platform Binance.

While the full extent of SpireBit’s operation remains unknown, the company’s tactics are part of a proliferating type of online fraud known as pig butchering. The name comes from the process of gaining someone’s trust and building a friendship with them over the course of weeks or months — fattening up the pig before the kill, which in this case means stealing a large sum of money.

According to the FBI, crypto scammers stole more than $5.6 billion from Americans online last year.

According to the May court order, investigators in Massachusetts were able to seize a total of $269,000 from SpireBit’s crypto wallet, most of which is being distributed to four victims in the state.

Another SpireBit victim profiled by NPR, Naum Lantsman, 75, of Los Angeles, lost his life savings of $340,000 that he earned over decades as a small business owner. His family reported the theft to the California Attorney General’s Office, but a formal investigation was never initiated.

Officials from the Massachusetts and California attorney general offices did not return interview requests.

News

Map: Earthquake Shakes Central California

Published

2 hours ago

March 2, 2026

Press Room

Map: Earthquake Shakes Central California

Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown. All times on the map are Pacific time. The New York Times

A minor earthquake with a preliminary magnitude of 3.5 struck in Central California on Monday, according to the United States Geological Survey.

The temblor happened at 7:17 a.m. Pacific time about 6 miles northwest of Pinnacles, Calif., data from the agency shows.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Pacific time. Shake data is as of Monday, March 2 at 10:20 a.m. Eastern. Aftershocks data is as of Monday, March 2 at 11:18 a.m. Eastern.

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US says Kuwait accidentally shot down 3 American jets

Published

4 hours ago

March 2, 2026

Press Room

US says Kuwait accidentally shot down 3 American jets

The U.S. and Israel have been conducting strikes against targets in Iran since Saturday morning, with the aim of toppling Tehran’s clerical regime. Iran has fired back, with retaliatory assaults featuring missiles and drones targeting several Gulf countries and American bases in the Middle East.

“All six aircrew ejected safely, have been safely recovered, and are in stable condition. Kuwait has acknowledged this incident, and we are grateful for the efforts of the Kuwaiti defense forces and their support in this ongoing operation,” Central Command said.

“The cause of the incident is under investigation. Additional information will be released as it becomes available,” it added.

In a separate statement later Monday, Central Command said that American forces had been killed during combat since the strikes began.

“As of 7:30 am ET, March 2, four U.S. service members have been killed in action. The fourth service member, who was seriously wounded during Iran’s initial attacks, eventually succumbed to their injuries,” it said.

Major combat operations continue and our response effort is ongoing. The identities of the fallen are being withheld until 24 hours after next of kin notification,” Central Command added.

This story has been updated.

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Satellite images provide view inside Iran at war

Published

16 hours ago

March 1, 2026

Press Room

Satellite images provide view inside Iran at war

Smoke rises over Konarak naval base in southern Iran on Sunday. The base was one of hundreds of targets of U.S. and Israeli forces throughout the country.

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Commercial satellite images are providing a unique look at the extent of damage being done to Iran’s military facilities across the country.

The U.S. and Israeli military campaign opened with a daytime attack that struck Iranian leadership in central Tehran. Smoke was still visible rising from Ayatollah Ali Khamenei’s compound following the attack that killed the supreme leader.

An image by the company Airbus taken on Saturday shows the aftermath of an Israeli strike on Iran’s Leadership House in central Tehran. Iran’s Supreme Leader Ayatollah Ali Khamenei was killed in the opening wave of attacks.

Pléiades Neo (c) Airbus DS 2026

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Israel and the U.S. have gone on to strike targets across the country. Reports on social media indicate that there have been numerous military bases and compounds attacked all over Iran, and Iran has responded with attacks throughout the Middle East.

U.S. forces have also been striking at Iran’s navy. In a post on his social media platform, President Trump said that he had been briefed that U.S. forces had sunk nine Iranian naval vessels. U.S. Central Command did not immediately confirm that number but it did say it had struck an Iranian warship in port.

An image captured on February 28 shows a ship burning at Iran's naval base at Konarak.

An image captured on Saturday shows a ship burning at Iran’s naval base at Konarak.

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Numerous satellite images show burning vessels at Konarak naval base in southern Iran. Images also show damage to a nearby airbase where hardened hangers were struck by precision munitions.

Hardened aircraft shelters at Konarak airbase were struck with precision munitions.

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And there was extensive damage at a drone base in the same area. Iran has launched numerous drones and missiles toward Israel and U.S. military installations in Bahrain, Kuwait and Qatar. Many drones have been intercepted but videos on social media show that some have evaded air defenses and caused damage in nearby Gulf countries. In Dubai, debris from an Iranian drone damaged the iconic Burj Al Arab, according to a statement from Dubai’s government.

Buildings at an Iranian drone base at Konarak were destroyed in the strikes.

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Iran’s most powerful weapons are its long-range missiles. The Iranian Revolutionary Guards have hidden the missiles deep inside mountain tunnels. Images taken Sunday in the mountains of northern Iran indicate that some of those tunnels were hit in a wave of strikes.

Following Khamenei’s death, Iran declared 40 days of mourning. Satellite images showed mourners gathering in Tehran’s Enghelab square on Sunday.

Iranian Foreign Ministry Spokesperson Esmail Baghaei told NPR on Sunday that Iran will continue to fight “foreign aggression, foreign domination.”

A White House official told NPR that Trump plans to talk to Iran’s interim leadership “eventually,” but that for now, U.S. operations continue in the region “unabated.”

A large crowd of mourners fill Enghelab Square in Tehran on Sunday, following the death of Iran’s Supreme Leader Ayatollah Ali Khamenei, who was killed in an Israeli airstrike.

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