Australia's corporate watchdog, ASIC, has been authorized to dismantle 95 companies suspected of running crypto and romance scams, often referred to as "pig butchering." These scams involve building fake relationships to lure victims into fraudulent investments. The Federal Court approved the shutdown after finding these firms were set up with false information. Liquidators have been appointed, revealing claims of over $35.8 million from victims across 14 countries. ASIC continues to combat scams, removing around 130 fraudulent websites weekly, but warns that the threat remains high.