What began as an investigation into an investment scam reported on the State of Wisconsin Department of Financial Institutions’ Investment Scam Tracker portal led to a deeper discovery: numerous scam scripts, guides for scripted conversations, Telegram channels with hundreds of users, and the identification of a broader scam operation offering “scam-as-a-service” businesses, potentially involving countless victims.
This report does not aim to retell what pig butchering scams are. The topic has already been widely covered in articles, reports, and the media. Instead, the report analyzes the tactics, techniques, and procedures (TTPs) revealed through Maltego and provides clear investigative tips and workflow for these scams. Rather than just naming the scammers, we examine how they operate so investigators can reproduce the process, adapt it to their cases, and work across sectors to better disrupt scam networks. Get the report for free below, no sign-up needed.
Part of the investigation was carried out on Maltego’s new web platform, which combines investigation and admin tools, including link analysis, into one browser-based workspace under a single Maltego ID. To see how Maltego One makes Person of Interest investigations simpler, join our webinar on October 22, 2025. Sign up here.
Stay safe out there!
