CryptoGal Glossary
Pig Butchering Scam
A long-con where someone builds a fake friendship or romance over weeks, then guides you into a fraudulent crypto “investment” that eventually disappears.
A pig butchering scam is a slow, patient fraud. The scammer “fattens up” a victim emotionally over weeks or months, then convinces her to move money into a fake crypto platform that looks polished, shows fake gains, and eventually vanishes with everything she deposited.
How it works
It usually starts with a wrong-number text, a friendly DM, or a dating app match. The person is charming, attentive, and never seems to be in a rush. After trust is built, they casually mention a crypto trading platform, an aunt or mentor who taught them, and screenshots of profits. You are invited to try a small amount. It “works.” You are encouraged to deposit more. When you try to withdraw, there is a tax, a fee, a verification. The money is already gone.
Red flags
- A new online connection who moves the conversation to WhatsApp or Telegram quickly.
- Unsolicited crypto or trading advice from someone you have never met in person.
- A platform you have never heard of that only they recommend.
- Withdrawals blocked until you pay a “tax” or “unlock fee.”
How to protect yourself
Never take investment advice from someone you have only met online. Only use crypto platforms you researched independently. If a stranger is teaching you to trade, that is not a friendship. That is a script.
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