Pig butchering scams — named after the practice of "fattening up" a victim before the final extraction — have increased by 340% year-on-year according to global fraud reports. In these scams, criminals build fake romantic or friendly relationships over days or weeks before introducing a fraudulent crypto investment platform.
How it works: The scammer contacts you on a dating app, social media or even by "wrong number" text. They build trust over time, then share a "tip" about a crypto platform they're using. You invest small amounts, see fake returns, invest more — then withdrawal is blocked and the scammer disappears.
Red flags to watch for:
- Anyone who meets you online and quickly brings up crypto investment
- "Guaranteed returns" or platforms showing suspiciously high profits
- Pressure to invest more before you can withdraw
- Withdrawal fees required before accessing funds
- The platform is not listed on any legitimate exchange registry
If you've been targeted, contact us immediately. The sooner you act, the better your chances of recovery.