What Are Pig Butchering Scams?

Pig butchering scams involve scammers who build trust and relationships with their victims over time, "fattening them up" before exploiting them financially. These scams often revolve around fake investment opportunities, particularly in cryptocurrencies.

How Do They Work?

Scammers typically:

• Contact victims "by mistake," pretending they were trying to message a friend.
• Transition the conversation to a secure app like WhatsApp or Telegram.
• Build a friendly or romantic relationship over weeks or months.
• Introduce fake investment opportunities, usually in cryptocurrencies, claiming they’ve had great success.
• Encourage the victim to invest small amounts initially, showing fake profits to build trust.
• Push for larger investments, eventually disappearing with the funds.

Examples of Pig Butchering Scams

Pig butchering scams involve building trust before exploiting victims financially. Below are common examples of how these scams unfold:

• Fake Cryptocurrency Investment: A scammer contacts you "by mistake" and begins a friendly conversation. Over time, they introduce a cryptocurrency investment platform, claiming to have had great success. They encourage small investments, showing fake profits to build trust. Eventually, they push for larger investments and disappear once the victim has invested enough, leaving no way to recover the funds.
• Mentorship Scam: A scammer poses as a successful investor offering to mentor you. After building a relationship, they lead you to a fake platform where you deposit funds that are quickly stolen. They often use the guise of providing financial advice or "exclusive opportunities."
• Romantic Pig Butchering: A scammer establishes a romantic relationship with the victim and convinces them to invest in cryptocurrency, showing fabricated returns to further gain their trust. Once the victim has invested large amounts, the scammer cuts off all communication and disappears with the funds.
• Investment Group Scam: The scammer claims to be part of an exclusive investment group with guaranteed returns. They invite the victim to join by making small investments, which are initially profitable. As the victim increases their investment, the scammer disappears with all the funds, and the platform is inaccessible.

Category

Online Scam