Pig Butchering Scam

Named for the practice of fattening livestock before slaughter, scammers build a long-term relationship — often starting as a romance or friendship — before gradually persuading the victim to invest increasing amounts into a fake trading platform, ultimately taking everything.

A scammer initiates contact through a dating app, social media, or even a "wrong number" text, then spends weeks building trust and an emotional connection before mentioning that they, or a relative, have been making significant money trading crypto. They walk the victim through opening a small account on a professional-looking but fake trading platform, showing early "wins" to build confidence, and gradually encourage larger and larger deposits — sometimes urging the victim to take out loans or drain savings — before cutting off contact and disappearing with everything once withdrawals are attempted or the amount invested peaks.

• A new online contact, sometimes from an unexpected text, builds a personal relationship before mentioning investing.
• Early "trades" show quick, easy profits to build confidence.
• Increasing pressure to deposit larger amounts, sometimes suggesting loans.
• The platform is unfamiliar and was recommended only by this one contact.

• Be wary of a new online contact who eventually steers conversation toward an investment opportunity.
• Never move funds to a trading platform recommended by someone you've only met online.
• Independently verify any platform's registration before depositing money.
• Cut off contact and report to authorities as soon as investment pressure begins.