What is the "pig butchering scam"?

Overview

The pig butchering scam is a new type of online fraud that combines romance scams with cryptocurrency fraud and has caused losses of billions of dollars.

Contents 

How does the pig butchering scam work?

How can you identify the pig butchering scam?

How can you protect yourself from the pig butchering scam?

What should you do if you have been a victim of the pig butchering scam?

Conclusion

How does the pig butchering scam work?

The process of the pig butchering scam can generally be divided into five steps:

① Establish trust

Scammers use various dating apps or matchmaking websites to add you as a friend and chat with you frequently. During the conversation, they show extra care and concern for you, making you trust them and deepening your relationship until you are thoroughly convinced.

② Lure investment

When your relationship is stable, scammers will encourage you to purchase stocks (lottery tickets, futures, etc.) on their self-made platform. They manipulate the backend to let you earn small amounts initially.

③ Encourage large investments

When you have tasted success, the scammer will claim to know the pattern of the stock app (lottery tickets, futures, etc.), promising you a guaranteed profit if you follow their advice. By this time, you trust them completely and may invest heavily.

④ Unable to withdraw money

When you try to withdraw the amount from the platform, you find that it cannot be withdrawn.

⑤ Disappear

When you attempt to confront the scammer, they have already vanished without a trace, taking your money with them.

How can you identify the pig butchering scam?

Although the pig butchering scam is sophisticated, there are some characteristics that can help you identify it. Here are some common methods:

① Personal information

Is the person's personal information trustworthy and real? Scammers often use fake or stolen photos, names, ID cards, and other information to create an image of a wealthy and attractive person to attract your attention. You can verify their authenticity by reverse image search, checking their ID card number, or asking for a video call.

② Logic and consistency

Is the person's chat content logical and consistent? Scammers often use a fixed chat script to communicate with victims. They may make up some emotional stories to gain sympathy and trust or exaggerate their wealth and status to show off their ability and charm. These stories may have logical loopholes or contradictions that require careful discernment.

③ Overly enthusiastic and proactive

Is the person too enthusiastic and proactive? Scammers often add you as a friend, send you messages every day, and express their love and concern for you. They may confess their feelings or propose to meet or get married very soon in the relationship. All these attempts are aimed at making you fall into an emotional vortex and lose your judgment.

④ Investment guidance

Does the person have a motive to guide you to invest? The ultimate goal of scammers is to cheat you out of your money, so they will recommend some investment projects such as stocks, lottery tickets, futures, cryptocurrencies, etc., after establishing a stable relationship with you. They may show you false profit screenshots or claim to have inside information and operating skills to make you think investing is easy money. They may also ask you to download malicious software or link to phishing websites to steal your personal information and property.

How can you protect yourself from the pig butchering scam?

To avoid being harmed by the pig butchering scam, it is essential to raise your awareness and judgment ability. Here are some specific measures:

① Don't trust easily

Don't trust strangers, especially those you meet online. Don't disclose your personal information, such as name, address, phone number, bank card number, etc., casually. Don't believe sweet words that easily; keep a rational and calm attitude.

② Don't accept investment invitations

Don't accept investment invitations easily, especially those involving large sums of money or cryptocurrency investments. Don't download or click on software or links with unknown sources, and don't enter your account number, password, or verification code on an unsafe platform. Don't take risks for small profits; recognize investment risks and fraud traps.

③ Use MetroVPN

MetroVPN can help you avoid malicious websites and software and other network threats. MetroVPN is a professional network security tool that can help you hide your IP address, encrypt your network traffic, and prevent hackers and scammers from peeping into your privacy and property. MetroVPN can also allow you to visit blocked or restricted websites and apps, giving you a more free and open network experience.

What should you do if you have been a victim of the pig butchering scam?

① Stop communication

Stop all communication with the scammer and do not believe anything they say, nor provide them with any personal information or transfer any funds to them.

② Preserve evidence

Such as chat records, transfer receipts, screenshots of investment platforms, etc., to facilitate reporting to the authorities and recovering losses.

③ Report to the police

Report to the police for assistance as soon as possible, explaining your situation and the extent of your losses, providing relevant evidence, and cooperating with the police in their investigation and evidence collection.

Conclusion

The pig butchering scam is an extremely malicious online fraud that not only deprives victims of their hard-earned money but also causes emotional harm and trauma. Therefore, it is crucial to take preventive measures and report any suspicious behavior promptly. If you have fallen victim to this scam or any other type of online fraud, remember that you are not alone, and there is help available. Don't hesitate to seek support from family, friends, or professional counseling services to cope with the aftermath of the scam.