Pig butchering sounds like a term that should be used in an abattoir. Guess what? you are right if you feel the same way. It is a tactic or strategy used by con artists to ‘butcher‘ your crypto investment.

This is one of the latest lines of tricks used by scammers to rob people of their hard-earned investment in crypto. Call it a romance scam, you are also not wrong. It is the leading Bitcoin scam in the world today.

In 2024 alone, crypto scams took over $9.9 billion from victims, possibly reaching $12.4 billion as estimates are modified. Pig butchering scams alone accounted for about 33.2% of scam revenue, rising by nearly 40% year-over-year. This scam has nothing to do with livestock or pigs or pork but the name was picked because of the way scammers ‘fatten’ their victims by feeding them false hopes and promises before eventually ‘slaughtering’ them (that is scamming them of all their money).

These scammers typically mix romance, investment hype, and psychological manipulation to drain crypto wallets dry. As a trader, it is important that you understand how this scam works, you must be able to identify it early. This will help you safeguard your assets and save you from losing everything.

This article will help you understand the signs and safeguard your assets. 

What is Pig Butchering?

Pig butchering

Pig butchering is a growing scam in the crypto industry today. As the name implies, pig butchering refers to how a target is “fattened up” before being “slaughtered.”

It is therefore a type of romance scam where strangers use the strategy of forming a relationship with someone they met online to scam them later.

The trend originated in Southeast Asia and translates to the Chinese word “Shāzhūpán”. The word refers to a farmer fattening up the pig with food before butchering it. Many have built a relationship (fattened) with people they met online and duped (slaughtered). The FBI has since warned that the scam has grown exponentially this year.

How does Pig Butchering Scam Work?

Many are aware of the other common type of Bitcoin scam and have stayed on guard. Scammers also took another route different from the old methods to scam people.

Social media has made it very easy to connect with people these days. Facebook, Instagram, Twitter, Tinder, WhatsApp, and so on are platforms where you can meet people, chat, and get along as if you stay under the same roof.

Scammers build a trusted relationship with their victims for months making it seem they are genuine. The communication mostly takes the romantic route with frequent messages about ‘taking care of each other. Once the offenders gain the victim’s complete trust, they ask them to invest in Ponzi crypto schemes.

The scheme includes convincing them that investing in cryptos can bring in all the riches. The talks also turn to ‘we can be happy together with the wealth and lead a good future.

The victims then wire the scamsters the money hoping to get rich quickly and lead a romantic yet comfortable life. Once the money is transferred, the scamsters block the victim and make way with the funds.

How to Avoid Pig Butchering Scam?

Here are ways to avoid romance scams named ‘pig butchering‘. They are discussed below.

1. Don’t Trust Everyone

You don’t have to trust everyone because you might get scammed in the long run. Keep your details and personal information away from people you seem to trust. Give every message you receive regarding crypto endeavors the greatest level of alertness. This will help you to avoid fraudsters.

2.. Don’t fall for Investment Hype

Many projects are being launched today which are scams. You need to be careful and don’t fall for projects that promise you heaven and earth when you invest. It is one of the tricks used by con artists.

3. Secure your Crypto Wallet & Devices

You need to secure your crypto wallet. You can do this by storing your information offline. Also use-multi factor authentication. This allows you to fight attackers. You need to keep security keys safe as well. This will help you to fend off scams.

Frequently Asked Questions (FAQs) About Pig Butchering Scam

How can I spot a pig butchering scam?

If a stranger texts you and almost immediately shifts the conversation toward investments. If they take it a step further and promise that your returns are sure or try to emotionally blackmail you into investing, run! 

What should I do if I’ve been targeted?

Stop talking to them immediately and report the account to your local security agency. Also, let the crypto platform that you use know that there is a scammer on their platform. 

Can I recover money lost to pig butchering?

It is usually not easy to recover your money when you have been scammed through crypto because transactions are irreversible. However, some people are lucky to recover some of their money through blockchain tracing services and law enforcement.

Are crypto trading platforms safe?

You are safe if you use legitimate platforms and use strong security practices. Make sure that you use exchanges that are known for their security and regulatory compliance.

Conclusion

Pig butchering scams are generally scary because they use your trust against you. It’s a slow con that works on your feelings just as much as your money, so it’s nearly impossible to see the red flags until it’s too late. The best way to stay safe is to know how they operate and be super suspicious of any investment opportunities you didn’t go looking for yourself.

Last updated on August 18, 2025