Love and Crypto? Beware of "Pig Butchering" (Romance Scams)

This is the cruelest type of scam because it breaks not just your wallet, but your heart and trust. The "Pig Butchering" scam (a term derived from the concept of fattening a pig before slaughter) is a long-term strategy. Unlike a typical phishing email that demands money instantly, this scam plays the long game. The fraudster builds a relationship, trust, and even a fake romance over weeks or months, only to strike with devastating force when you least expect it.

1. How It Starts: The "Accidental" Message
It usually begins innocently: a WhatsApp message, an SMS, or a DM on social media. "Hi Anna, are we still on for coffee today?" or "Is this the tennis coach's number?"
When you reply that they have the wrong number, the stranger is incredibly polite. They apologize but keep the conversation going. They might say, "You seem like a nice person, let’s be friends." They often move the chat to Telegram or WhatsApp. Their profiles show a life of luxury—expensive cars, fine dining, and travel—creating an image of success that you naturally want to emulate.

2. The "Fattening" Phase
For weeks, they don't ask for anything. You talk about life, hobbies, and family. Eventually, they "accidentally" mention how they fund their lifestyle. They claim to have inside knowledge of a new crypto investment platform or a special trading node.

• The Hook: They show you screenshots of massive profits. They might say, "I can teach you. Start with just $100."

• The Trap: You deposit a small amount. They manipulate the fake platform to show you a profit. They even let you withdraw $50 or $100 to your bank account. This is the critical moment—you now believe the system is real.

3. The Slaughter
Once convinced, you start depositing larger sums—your life savings, loans, or mortgage money. The numbers on the screen keep going up. But when you finally try to withdraw a large amount, the trap snaps shut. The platform shows an error or "frozen account." The "support" team demands a 20% "tax payment" or "security deposit" to release the funds. This is a lie. The money was gone the moment you sent it.

Summary:
There are no "accidental" friendships in crypto. If a stranger from Tinder or WhatsApp starts discussing investments, run. It is always a scam.