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Pig butchering (crypto romance/investment) scam
Last updated
Also known as: crypto romance scam, fake trading platform
What it looks like
A stranger builds trust over weeks/months, then pitches high-return crypto investing on a fake platform. Victims buy crypto on real exchanges then transfer to the scammer’s site; withdrawals are blocked unless more ‘fees/taxes’ are paid.
Who it targets
Adults seeking relationships or investment advice; often contacted via wrong-number texts or dating apps.
Red flags
- Move from dating/social apps to private chat quickly
- Lavish lifestyle claims then crypto tutoring
- Guaranteed huge short-term returns
- Cannot withdraw without paying more fees
What to do if you clicked, paid, or replied
- Do not transfer crypto to platforms recommended by online-only contacts
- Notify your bank; file a police report
- Report to IC3 (ic3.gov) and, for CA residents, DFPI with full transaction hashes/wallet addresses
Still circulating?
DFPI guidance updated April 22, 2026; also covered by FDIC OIG.
Primary source: California DFPI · 2026-04-22
Related sources
Educational summary only. Verify details on the source page. Report fraud at ReportFraud.ftc.gov or ic3.gov.