CRITICAL THREAT
Pig Butchering Scam
Long-con investment scam combining romance and crypto fraud where scammers "fatten" victims before "slaughtering" them financially.
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
1How 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
2Warning 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
3Real-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
4How 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
5What 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
?Frequently Asked Questions
What is Pig Butchering Scam?
Long-con investment scam combining romance and crypto fraud where scammers "fatten" victims before "slaughtering" them financially. 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'r...
How common is this type of scam?
Pig Butchering Scam is classified as a critical risk threat. Reported losses: $4.6 billion in investment fraud (FTC 2024). This primarily targets 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. Wire transfers and cryptocurrency are rarely recoverable. Report immediately to your bank and file complaints with the FTC at reportfraud.ftc.gov and FBI IC3 at ic3.gov.
How do I report this?
Report to the FTC at reportfraud.ftc.gov. For internet crimes, file with FBI IC3 at ic3.gov. For identity theft, visit identitytheft.gov. Also contact your local police and your bank.
Sources & References
Related Scams
Wrong Number Text Scam
A "friendly" wrong number text that leads to ongoing conversation, building rapport before eventually requesting money or pushing investment scams.
Romance Scam
Scammers create fake profiles on dating apps or social media, build romantic relationships, then ask for money for emergencies or investments.
Cryptocurrency Investment Scam
Fake crypto trading platforms, signal groups, and investment opportunities that steal your cryptocurrency deposits.
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