● CRITICAL THREAT

Pig Butchering Scam

A patient con. The scammer builds a relationship first — romance, friendship, a "wrong number" that turns into daily contact — then steers you onto a crypto platform that looks real and is not. The name is literal: fatten the target on fake gains, then slaughter. By the time a withdrawal stops going through, the money and the person are both gone. These run for months before the ask.

Losses: $4.6 billion in investment fraud (FTC 2024)

Targets: Adults 30-60, lonely individuals, people curious about crypto investing

Updated: 2026-01-06

Also known as: Sha Zhu Pan · Crypto Romance Scam · Wrong Number Scam

How It Works

The "pig butchering" scam gets its name from the Chinese phrase "Sha Zhu Pan" — scammers "fatten the pig" (build trust) before "slaughtering" them (stealing money). **Phase 1: The Introduction (1-2 weeks)** A stranger contacts you through a dating app, social media, or a "wrong number" text. They're attractive, successful, and surprisingly interested in you. They quickly move the conversation to WhatsApp or Telegram. **Phase 2: The Fattening (2-8 weeks)** They build an emotional connection through daily messages, photos, and occasional video calls. They casually mention their wealth comes from cryptocurrency trading. They share screenshots of impressive "gains." **Phase 3: The Investment Hook** They introduce you to a trading platform — often a convincing fake app or website that looks professional. They encourage small investments first ($500-$1,000). The platform shows impressive "returns." You can even withdraw small amounts initially to build trust. **Phase 4: The Slaughter** Once you've invested significant money ($10,000-$500,000+), the platform freezes your account. You're told you need to pay "taxes," "fees," or "insurance" to withdraw. The scammer slowly ghosts you. The platform eventually disappears. Many victims are trafficked workers in Southeast Asia forced to run these scams.

How Scammers Make Contact

Dating apps (Tinder, Bumble, Hinge)LinkedIn messagesWhatsAppInstagram DMs"Wrong number" texts

Warning Signs & Red Flags

Stranger contacts you with a "wrong number" text that leads to friendship
Quickly moves conversation to WhatsApp or Telegram
Claims to be wealthy from crypto trading and wants to "teach you"
Introduces you to a trading platform you've never heard of
Platform requires direct download (not on App Store/Google Play)
You see incredible returns (10-50%+ monthly)
Pressure to invest more to "maximize your gains"
Withdrawal requires payment of "fees" or "taxes"
Person avoids video calls or makes excuses to never meet

Real-World Example

"I matched with a woman on Hinge who said she was a financial analyst. After two weeks of texting every day, she showed me how she made $50,000 trading crypto. She convinced me to try her platform. I invested $150,000 over three months — my entire savings. When I tried to withdraw, they said I owed $30,000 in taxes first. I never saw any of my money again."
— Victim testimony, FBI IC3 Report

How to Protect Yourself

Be skeptical of unsolicited contacts — especially "wrong number" texts that lead to friendship
Never invest through platforms not available on official app stores
Research any platform thoroughly — search "[platform name] + scam"
Never send money to withdraw money — legitimate platforms don't require this
Verify their identity — reverse image search their photos; insist on video calls
Talk to someone you trust — scammers try to isolate victims; get a second opinion
If it sounds too good to be true, it is

What To Do If You're a Victim

1Stop all contact with the scammer immediately
2Stop sending money — no matter what they claim about fees or taxes
3Document everything — save screenshots, messages, transaction records
4Report to FBI IC3 at ic3.gov
5Report to FTC at ReportFraud.ftc.gov
6Contact your bank or crypto exchange about unauthorized transactions
7Seek support — AARP Fraud Watch Network: 877-908-3360
8Be aware of recovery scams — scammers may contact you claiming to help recover funds

Report This Scam

FTC Report Fraud FBI IC3 Identity Theft

Frequently Asked Questions

What is Pig Butchering Scam?

What are the warning signs of Pig Butchering Scam?

Stranger contacts you with a "wrong number" text that leads to friendship. Quickly moves conversation to WhatsApp or Telegram. Claims to be wealthy from crypto trading and wants to "teach you". Introduces you to a trading platform you've never heard of. Platform requires direct download (not on App Store/Google Play).

How do I protect myself from Pig Butchering Scam?

Be skeptical of unsolicited contacts — especially "wrong number" texts that lead to friendship. Never invest through platforms not available on official app stores. Research any platform thoroughly — search "[platform name] + scam". Never send money to withdraw money — legitimate platforms don't require this.

What should I do if I'm a victim of Pig Butchering Scam?

Stop all contact with the scammer immediately. Stop sending money — no matter what they claim about fees or taxes. Document everything — save screenshots, messages, transaction records. Report to FBI IC3 at ic3.gov.

How serious is this threat?

We rate this critical — among the most damaging schemes we track. Reported losses: $4.6 billion in investment fraud (FTC 2024). Most exposed: Adults 30-60, lonely individuals, people curious about crypto investing.

Can I get my money back?

Recovery depends on how you paid. Credit card payments may be reversed through chargebacks, while wire transfers and cryptocurrency are rarely recoverable. Report immediately to your bank and file complaints with the FTC at reportfraud.ftc.gov and the FBI IC3 at ic3.gov.

How do I report Pig Butchering Scam?

Report to the FTC at reportfraud.ftc.gov. For internet crimes, file with the FBI IC3 at ic3.gov. For identity theft, visit identitytheft.gov. You should also contact your local police and your bank.

Sources & References

Related Scams

Wrong Number Text Scam

A stranger texts like they have reached the wrong number, you reply to be polite, and the conversation just keeps going. That is the design. Weeks of friendly chat build trust before the pivot to a "great investment" — it is often the front door to pig butchering.

Romance Scam

A profile that is a little too perfect builds a relationship fast, then — always before you have met in person — an emergency arrives that only money can fix. The person may not exist; the photos are usually stolen. Affection is the lever, and the asks do not stop after the first one.

Cryptocurrency Investment Scam

A platform, signals group, or "mentor" promises outsized, reliable crypto returns, and the dashboard obligingly shows them. The gains are pixels. The deposits are real and gone. When a withdrawal suddenly requires a "tax" or "fee," you are already past the point of getting anything back.

Think you've encountered this scam?

Use the free AI scanner to analyze suspicious messages, websites, or phone numbers.

Scan Now — It's Free