Online Threat Alerts (OTA) - Alerting you to scams and frauds.

Pig Butchering Crypto Scam - Protect Yourself
Pig Butchering Crypto Scam - Protect Yourself

Pig butchering is a long-term, high-yield investment scam combining romance/friendship fraud with fake cryptocurrency platforms. Scammers (the "butchers") build trust with victims ("pigs") over months via social media or text before convincing them to invest, resulting in billions in losses. Victims see fake profits on fraudulent apps/websites before the scammers vanish.

How the Scam Works

  • Initial Contact: Scammers use fake profiles on dating apps, WhatsApp, LinkedIn, or send "wrong number" texts.
  • Building Trust: They spend weeks building a friendly or romantic relationship, sometimes using scripts to lure the victim.
  • The Pitch: They claim to have high-return, low-risk cryptocurrency investment opportunities.
  • The "Butchering": Victims are directed to fake trading apps/websites that show false, high returns to encourage larger investments.
  • The Vanishing Act: Once the victim tries to withdraw money, the scammer disappears, leaving the victim with total financial loss.

Warning Signs

  • Be wary of unsolicited messages from strangers on social media or apps like Telegram.
  • Never take investment advice from someone you have never met in person.
  • Be cautious if an online acquaintance pushes to move the conversation to encrypted apps like WhatsApp or Telegram.
  • Avoid investing in obscure or newly introduced crypto platforms.

If you have been targeted, report the incident immediately to law enforcement, such as the FBI's Internet Crime Complaint Center (IC3) or your local police.

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