Citibank is being sued for allegedly allowing a $20 million encryption "Pig-butchering scam" to occur.

2025-06-26 06:09:20

According to Mars Finance, on June 26, a man in the U.S. sued Citibank, claiming it failed to stop a $20 million encryption “Pig-butchering scam.” The plaintiff stated that he met the fraudulent identity scammer through Facebook and was defrauded after investing in the NFT platform “OpenrarityPro.” Citibank is accused of processing 12 suspicious transfers totaling approximately $4 million without identifying risk signals. The lawsuit claims the bank severely neglected its monitoring and review responsibilities. The case has been filed in the federal court in Manhattan, New York. (Cointelegraph)

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