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    Home»NFTs (Non-Fungible Tokens)»$20M Pig Butchering Fraud Victim: Lawsuit Against Citibank
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    $20M Pig Butchering Fraud Victim: Lawsuit Against Citibank

    Sam Boolman | Crypto Enthusiast and WriterBy Sam Boolman | Crypto Enthusiast and WriterJune 26, 2025
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    $20M Pig Butchering Fraud Victim Files Lawsuit Against Citibank

    Michael Zidell, a victim of a $20 million crypto pig butchering fraud, has filed a lawsuit against Citibank in Manhattan Federal Court. According to the claim, Citibank failed to fulfill its statutory responsibilities by allowing Zidell to deposit large sums of money to scammers…

    Pig butchering frauds, a blend of romance investment and confidence scams, pose a growing threat to the crypto space. The 33.2% increase in pig butchering incidents marks a 40% rise year-over-year. A University of Texas study reveals a $75.3 billion global loss to pig butchering between January 2020 and February 2024. In 2025, pig butchering has become a highly damaging scam, with wallet breaches and CEX hacks among the prevalent methods targeting crypto users.

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    Sam Boolman | Crypto Enthusiast and Writer
    Sam Boolman | Crypto Enthusiast and Writer
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    Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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    $20M Pig Butchering Fraud Victim: Lawsuit Against Citibank

    June 26, 2025

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