🐗What is PIG BUTCHERING
🐗Pig butchering scams (also known as "sha zhu pan" or "killing pig game" in Chinese) are a type of sophisticated online fraud where scammers build trust with victims—through fake romantic relationships or friendships—before convincing them to invest in bogus cryptocurrency schemes or other fast profit schemes (which is real life do not exist).
➡️The "fattening" phase involves grooming the victim to deposit more money over time, showing fake profits to encourage larger investments, until the "butchering" stage, where the scammers disappear with the funds. The fattening stage is romance. Offering a happy future with the victim and his new love. Separating families so as to keep the victim closer for longer. Not a nice term, ‘Pig Butchering’ but it clearly describes the whole detail from beginning to end.
➡️BACKGROUND (Grok) : These scams originated in China in the late 2010s, targeting offshore gamblers, but spread globally during the COVID-19 pandemic, with operations now run by organized crime syndicates in Southeast Asia, such as in Cambodia, Myanmar, Laos, the Philippines, and Thailand. Perpetrators often traffic victims (including ethnic Chinese and others) into "fraud factories"—forced labor compounds where they're coerced into running the scams under threat of violence.
The UN estimates hundreds of thousands are trapped in these centres.
💔How It Works
Initial Contact: Scammers reach out via social media, dating apps, WhatsApp, Telegram, or even "wrong number" texts, posing as attractive or friendly strangers. Even if you were talking to someone some time ago (even years) will come back and tell you the money you thought you lost back then is still invested and now 6+ times profit. VERY OFTEN THIS IS (BUT NOT ALWAYS) A YOUNG LADY AND MUCH OLDER MAN SCAM). We have come across all ages as investing does appeal to many.
💞Building Trust: They nurture a relationship, sharing stories, photos, and sometimes fake video calls (enhanced by AI deepfakes). Very often females making calls, even every day. Talking about families (to alienate) and of course this mythical future.
Investment Hook: Once trust is established, they introduce a "lucrative" crypto or trading platform, providing fake dashboards showing quick returns to lure more deposits. Unrealist profits always. In real life nothing makes 4-600% quickly.. even over time. It won’t happen but it is very persuasive and appealing especially when it is presented to them as if official.
➡️Extraction: Victims wire money (often crypto for untraceability), but withdrawals are blocked with excuses. Thousands of your currency is asked for withdrawal.. often minimum 5000 and then you must wait. Of course there is no money to withdraw.
🪙REMEMBER CRYPTO IS ANONYMOUS AND DEPOSITS CANNOT BE REVERSED. THIS IS WHY THIS IS SO USEFUL TO CRIMINALS.
🌎Scale and Impact
In 2024, crypto fraud totaled $12.4 billion, with pig butchering scams making up about 33% and growing 40% year-over-year.
Global losses since 2020 are estimated at up to $75 billion, affecting millions, including high-profile cases like a U.S. banker who embezzled $47 million to cover losses. But nothing said about the criminals who obtained the $47 million. As is often the case in romance fraud, everyone is blamed but the criminals.
➡️Victims often suffer emotional trauma alongside financial ruin, as the scams exploit loneliness. Lifelong emotional devastation. THIS RUINS LIVES AND ALL FOR GREED
➡️How to Protect Yourself
Be wary of unsolicited contacts promising romance or investments, especially involving crypto.
Verify platforms independently; never send money to unproven schemes.
Report suspicions to authorities like the FTC (U.S.), local cybercrime units, or platforms like the Secret Service's resources.
