What is the Pig Butchering Scam?

The Pig Butchering Scam (originally known as Sha Zhu Pan in China) is a long-term financial fraud that combines romance verification with crypto investment fraud. Unlike quick ‘smash and grab’ scams, these fraudsters spend weeks or months grooming their victims—fattening the ‘pig’—before slaughtering them financially.

How the Scam Works: The 4 Phases

Phase 1: The ‘Wrong Number’ or Dating App Match

It almost always starts innocently. You receive a text message: ‘Hey Sarah, are we still on for lunch?’ or ‘Is this the tennis coach?’. When you reply that they have the wrong number, they apologize politely and strike up a conversation. Alternatively, they match with you on Tinder or Hinge, presenting themselves as successful, wealthy, and attractive.

Phase 2: The Grooming (Fattening)

They move the conversation to WhatsApp or Telegram. They send photos of their food, their pets, and their luxurious lifestyle. They don’t mention money yet. They build an emotional connection. They become your friend, or even a romantic interest.

Phase 3: The Investment Pitch

Eventually, they casually mention how they make their money. ‘My uncle sends me inside signals’ or ‘I trade Gold/USDT nodes.’ They offer to teach you. They have you download a legitimate wallet (like Coinbase or MetaMask) but then direct you to a fake trading website (e.g., a modified version of a DeFi platform). You invest a small amount (,000) and they let you withdraw profit (). You believe it’s real.

Phase 4: The Slaughter

You invest your life savings. The numbers on the screen go up. But when you try to withdraw, you are hit with ‘taxes,’ ‘security deposits,’ or ‘AML fees.’ You pay them, but the money never comes. The scammer vanishes.

Red Flags to Watch For

• Strangers who turn into friends too fast: If a wrong number texter wants to be your pen pal, it’s a scam.
• Guaranteed Returns: No real investment guarantees 10-30% weekly returns.
• Websites created recently: Use a Whois lookup tool. If the broker’s domain is 2 months old, run.
• Pressure to move to encrypted chat: They want to leave the dating app to avoid prolonged bans.

What to Do If You Were Scammed

If you have sent money to a Pig Butchering scam, do not trust ‘recovery agents’ on social media. They are secondary scammers. Report the crime to your local authorities (FBI IC3 in the US) and trace the funds on the blockchain to see where they went.

Stay vigilant. The most dangerous scams don’t look like scams—they look like friends.