Don’t Be a Pig!

Imagine the following: A strange text from an unknown number. A friendly conversation that turns into daily check-ins. Then, after trust has been built, comes the pitch: a “can’t-miss” investment opportunity, often involving cryptocurrency. You take the bait and “invest.”

Unbeknownst to you, you are now a victim at the heart of a scam commonly called “pig butchering.” This is a cruel label that describes how criminals “fatten you up” with attention and false success before stealing as much of your money as possible. Federal agencies and consumer groups describe it as a form of relationship-based investment fraud that often begins on dating apps, social media, messaging platforms, or through random “wrong number” texts.

What makes this scam especially dangerous is that it does not usually begin with a direct request for money. Instead, the scammer works to create comfort, routine, and emotional connection. The U.S. Secret Service, FBI, and Commodity Futures Trading Commission (CFTC) all warn that scammers may spend days or weeks building rapport before introducing the idea of investing. They often appear polished, attractive, and successful, using fake profiles, stolen images, and even manipulated videos or voices to appear real.

Then comes the hook. The scammer speaks of their investment success and offers to “teach” you how to do the same. You then are guided to a website or app that looks legitimate and may even show early gains. In some cases, they allow a small withdrawal, making the investment seem genuine. But the numbers on the screen are fake, and the purpose is to convince you to send more and more money. When you catch on and request all of your money back, the account is suddenly frozen. New demands appear for taxes, fees, or additional deposits to “unlock” the funds and now you have a problem.

The FBI says cryptocurrency investment fraud is among the most damaging fraud schemes today. In its Operation Level Up effort, the bureau reported notifying 8,103 victims of cryptocurrency investment fraud. Most did not know they were being scammed, and the effort helped save an estimated $511 million. The CFTC has also warned that financial romance and grooming gangs stole more than $3.5 billion in 2023. These numbers help explain why public awareness matters so much.

So how do you spot this scam? Start with the contact itself. Be suspicious of unexpected messages from strangers, especially “wrong number” texts that quickly turn chatty or personal. Be wary of anyone you have met only online who seems intensely interested in you, messages constantly, but cannot meet in person or avoids live video. Be wary of unsolicited investment advice from someone you met through social media, a dating app, or a messaging platform. Federal consumer guidance is blunt on this point: if an online love interest wants to teach you how to invest in crypto, it is a scam.

These scammers often claim exclusive knowledge, urgent timing, or guaranteed returns. They may urge you to move conversations off your current app and onto encrypted messaging services. They may show screenshots of supposed profits, offer step-by-step coaching, or even claim to add their own money to help you reach a target. None of that proves the investment is real. It only shows the scam is being staged carefully. Legitimate financial professionals do not build trust through flirtation, secrecy, and emotional grooming.

The safest response is not to invest based on advice from someone you have never met in real life. Do not send money, cryptocurrency, or personal financial information to a person whose identity you cannot independently verify. Check whether an investment platform is registered and whether the company has a real, verifiable presence outside the link the stranger sent you. If someone starts talking about paying fees or taxes before you can withdraw your money, stop immediately. That is one of the classic signs that the money is already gone.

If you think you have been targeted, act fast. Stop sending money. Save texts, usernames, wallet addresses, transaction receipts, and screenshots. Contact your bank or payment provider right away. Report the crime to the FBI’s IC3 and file a report with the FTC. If you are 60 and older, the FBI also suggests the National Elder Fraud Hotline for help with reporting. Pig-butchering scams thrive on secrecy, embarrassment, and hope. The best defense is to slow down, verify everything, and remember one hard truth: real love, real friendship, and real investment advice do not arrive from strangers demanding trust before they have earned it.