Scam library · Investment & crypto · Romance · Texts
Pig butchering crypto investment scam
It often starts with a 'wrong number' text or a dating or social media match. The person is warm, successful and patient. After weeks of daily chats, they mention their uncle or mentor who shows them how to trade crypto, and offer to help you try.
The trading platform is fake. Your balance grows on screen, but the money is going to the scammers. The name 'pig butchering' comes from the scammers themselves: fatten up, then slaughter.
What the message looks like
From: WhatsApp, 'Vivian' (after weeks of chatting)
Good morning dear ☀️ My uncle just shared another signal on the platform, I made 18% this week. I don't want you to miss it.
You can start with $1,000 to test. Download the app from this link (not in the app store yet, it's for institutional clients): vgx-exchange-pro[.]com
How this scam works
They start you small and may let you withdraw a little to prove it's real. Then come bigger 'opportunities', loans, or taxes and fees to withdraw. When you try to cash out, the account is frozen until you pay more. Many victims lose savings and retirement accounts, and some borrow money to keep going.
Investment fraud is the most expensive scam type. The FBI's 2025 Internet Crime Report counted $8.65 billion in investment fraud losses, and the FTC said consumers reported $7.9 billion lost to investment scams in 2025.
Red flags
- Someone you met online, never in person, brings up crypto or forex investing.
- A trading platform you've never heard of, often not in official app stores.
- Guaranteed or very high returns, and urgency to join a 'signal'.
- You can't withdraw without paying taxes, fees or a deposit.
- They avoid video calls, or make excuses about meeting.
How to tell it’s fake
- Search the platform's name with 'scam', and check registrations with the SEC's and CFTC's search tools.
- Ask to meet on a live video call. Scammers usually make excuses.
- Talk to someone you trust before moving money. Scammers often tell you to keep it secret.
What to do if you clicked, paid or shared info
Don’t panic, and don’t blame yourself. These scams are built by professionals. Act quickly, one step at a time.
If you clicked a link or called back
- Stop communicating and don't send more money, even to 'withdraw'.
If you paid
- Report to ic3.gov with wallet addresses, transaction IDs and the platform's website, and to ReportFraud.ftc.gov. Contact the exchange you sent from.
- Ignore anyone who offers to recover your crypto for a fee. The FBI warns that 'recovery' services are a follow-up scam.
If you shared personal info, a password or a code
- If you sent ID documents or account logins, change passwords and consider a credit freeze.
Where to report and get help (U.S.)
If a message seems legit and you’re still not sure, get a second opinion before you act. Reporting helps stop scammers, even if money can’t be recovered. If you are in danger, call 911.
- Your bank or card issuer
Call the number on the back of your card or on your statement, not one from the message. Ask them to stop or reverse the payment and to watch the account. - Federal Trade Commission (FTC) · ReportFraud.ftc.gov
Report the scam and get a step-by-step recovery plan. - FBI Internet Crime Complaint Center (IC3) · ic3.gov
Report scams that happened online, especially if money was lost. Include phone numbers, websites and payment details. - AARP Fraud Watch Network Helpline · aarp.org helpline
Free, for anyone of any age: trained volunteers help you sort out next steps. 877-908-3360, Monday to Friday, 8 a.m. to 8 p.m. Eastern. - IdentityTheft.gov · IdentityTheft.gov
If you shared your Social Security number or someone opened accounts in your name.
How Gmork Scam Guard would warn you
In Chrome or Edge on your computer, Scam Guard checks crypto platforms you visit and chats you have open, such as WhatsApp Web, Telegram Web or dating sites. It recognizes fake exchanges and the language of these scams, and warns you before you deposit. If someone's 'opportunity' seems legit, that is the moment to get a scam expert's opinion.
Scam Guard can miss things, so the checks above still matter. See what it warns about and what it keeps private.
Questions people ask
- What is pig butchering?
- A long con where scammers build a friendship or romance, then lead you into a fake investment platform and take as much as they can.
- Can I withdraw if I just pay the tax?
- No. Taxes and fees to withdraw are part of the scam. The money isn't there.
- Is there any way to get the money back?
- Report it fast to IC3 and the exchange. Recovery is rare, and paid 'recovery experts' are usually scammers.