Pig Butchering

In pig butchering scams, fraudsters initiate contact with victims via social media, dating apps, or messaging platforms, posing as potential romantic partners or financial advisors. They invest significant time in cultivating a relationship, gaining the victim's trust, and creating a sense of intimacy or financial opportunity.

Once trust is established, the scammer introduces the idea of investing in lucrative opportunities, often related to cryptocurrency or other high-yield investments. The victim is persuaded to invest increasing amounts of money into these fraudulent schemes. When the victim attempts to withdraw funds or stops investing, the scammer disappears, leaving the victim with significant financial losses.

The term "pig butchering" refers to the scammers' practice of "fattening up" their victims by building trust over time before "slaughtering" them and stealing their money.