Pig Butchering Scam

Here’s how it works:

The pig butchering scam is a type of fraud in which criminals lure victims into digital relationships to build trust before convincing them to invest in cryptocurrency platforms. Unbeknownst to victims, the fraudsters control the platforms and will eventually take all the money and vanish.(Pig butchering—a scam named after the practice of farmers fattening hogs before slaughter) Pig butchering scams are long-term con jobs that combine elements of romance scams, investment schemes, and cryptocurrency fraud.

Here’s what you can do:

1. Break off all contact with the scammer. Effective immediately, stop all communications across text, social media, apps, and email. Don’t send any explanation or say goodbye, as you don’t want to arouse their suspicions.

2. Block and report their account. It’s common for gangs to use multiple digital “friends” of the host to add credibility to the long-term scheme. Make sure to report every profile that might be part of the scam.

3. Change all your passwords and login credentials. If you share any account numbers or access codes for your cryptocurrency accounts or online platforms, you’ll need to create new, complex passwords that aren’t easy to hack.

4. File a complaint with the FBI’s Internet Crime Complaint Center (IC3). It helps to include specific details and any supporting documents — like screenshots of email, text, and WhatsApp conversations.

5. File a police report. You can inform your local law enforcement office with full details of the fraud and ask them to contact the crypto exchange.

6. Monitor your online and financial accounts for signs of fraud. Keep a close eye on all your credit reports, bank accounts, and credit card statements to spot any unfamiliar transactions.