Researchers Uncover Service Providers Fueling Industrial-Scale Pig Butchering Fraud

Cybersecurity researchers have highlighted two service providers that supply online criminal networks with the tools and infrastructure needed to fuel the pig butchering-as-a-service (PBaaS) economy, with activity dating back at least to 2016.

The analysis points to Penguin Account Store, which also goes by Heavenly Alliance and Overseas Alliance, as a key actor offering fraud kits, templates, and stolen data from various platforms, alongside pre-registered accounts and SIM cards, while promoting a SCRM AI platform to automate victim engagement.

PBaaS suppliers provide mobile apps, trading panels, and front-company infrastructure—sometimes bundled in a complete package priced from around $2,500—to enable scalable scams and laundered funds, according to Infoblox. The report also notes a second service category, CRM tools such as UWORK, which help manage agents and integrate with platforms like MetaTrader to give scam sites a veneer of legitimacy, and describes a broader ecosystem operated by sophisticated Asian crime groups in Southeast Asia.

The findings underscore how these off‑the‑shelf services lower entry barriers and scale online fraud, while also highlighting related criminal activity such as parked domains, Evilginx phishing, and state‑level‑style gambling networks. According to Infoblox, PBaaS provides mechanisms to expand operations with relatively little effort or cost.