Pig butchering scams are similar to romance and cryptocurrency scams. They often start with “accidental” contact through texts, social media, or dating sites. The scammer then persuades the victim to invest in fake cryptocurrencies, gold trading, or forex. They maintain extended contact, showing fake charts or small “withdrawals” to convince the victim. Once the victim realizes the scam or runs out of money, the scammer disappears.
Red Flags:
- Accidental contact, but the person wants to keep talking.
- Conversations about investments in crypto, gold, or forex.
- Persistent contact encouraging repeated investments.
How the Scam Works: Scammers, often victims of human trafficking, send fake messages to millions of phone numbers. Once someone responds, they pivot to investment opportunities, sharing fake screenshots and glamorous lifestyle pics. Victims might be added to group
chats with other scammers. The scammer focuses on getting the victim to invest more money, showing doctored images of returns. They might even send small fake withdrawals. Eventually, they ask the victim to dig into retirement savings or borrow money. If the victim asks for their money back, the scammer might claim they need more money for “tax problems” or fees. Once the scammer decides that the pig is thoroughly butchered, they will cut off communication. This usually happens after they’re convinced the victim has no more money to steal or the victim becomes suspicious. If the scammer can access the victim’s bank account, they will empty it. If you are a victim of fraud contact the Canadian Anti-Fraud Centre at 1-888-495-8501
