Pig Butchering Scam

Pig butchering (sha zhu pan — “slaughter of the pig”) is a cryptocurrency scam originating in China (2019). The name derives from the practice of “fattening up” victims before stealing their funds.

Mechanism

1. Scammer contacts victim on dating/social media and cultivates a relationship over weeks or months.
2. Scammer introduces a “lucrative” crypto investment app (not on official app stores).
3. Fake account shows impressive gains; small withdrawals are permitted to build trust.
4. Victim is persuaded to invest large sums.
5. Scammer disappears with all funds.

Scale

• Grew 8,500% between 2020 and 2024 (Chainalysis)
• Average victim loss: $121,926
• Victims: typically highly educated, mid-30s to early 50s, often recently divorced
• Meta removed 2 million related accounts in 2024; operations primarily based in Myanmar, Laos, UAE, Philippines, Cambodia

For full statistics see cryptocurrency-scams.

See also: money-mule, romance-scam, cryptocurrency.

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Source: weisman-2026-ic3-cryptocurrency-investment-scams