Pig butchering is a long-con investment fraud in which scammers build a romantic or friendly relationship with a victim over weeks or months before introducing a fraudulent investment platform. The name refers to the practice of fattening a pig before slaughter. The FBI reported that pig butchering accounted for hundreds of millions in losses in 2025 alone.
The scam typically begins with a wrong-number text, a LinkedIn connection request, or a message on a dating app. The scammer builds trust with daily conversation, expressions of affection or friendship, and a backstory involving financial expertise or a wealthy lifestyle. AI is increasingly used to maintain multiple victims simultaneously and to generate convincing profile photos, business documents, and trading platform interfaces.
After weeks of trust-building, the scammer introduces an investment opportunity, usually a crypto trading platform or foreign exchange platform that they claim gives them an edge. Initial small investments appear to generate extraordinary returns on a convincing fake dashboard. Victims are encouraged to invest more, recruit friends or family, and are eventually told they must pay taxes or fees to withdraw, which disappear along with the scammer.
Warning signs include an investment opportunity introduced by someone you met online, a platform you cannot find through independent verification, returns that seem too consistent or too high, difficulty withdrawing funds or being told you owe additional fees to access your money, and pressure to keep the investment secret from family.
If you believe you are in a pig butchering scam, stop sending money immediately. Do not pay taxes or fees to withdraw funds, as these are part of the scam. Report to the FBI IC3 at ic3.gov, the FTC at reportfraud.ftc.gov, and your financial institution. Document everything, including screenshots and communication records.