Pig Butchering Scam
What is Pig Butchering Scam?
Pig Butchering ScamA long-running romance and investment scam in which criminals build a relationship with the victim, then steer them into a fake cryptocurrency platform that ultimately steals all deposits.
Pig butchering — Sha Zhu Pan in Mandarin — describes the practice of fattening a victim emotionally before slaughter. Scammers approach targets via dating apps, social media, or wrong-number SMS, build trust over weeks, then introduce a fake high-yield crypto or forex platform. Victims see fabricated profits, are encouraged to invest more, and are blocked the moment they try to withdraw. Many of the call-centre staff are themselves trafficked workers held in compounds in Cambodia, Myanmar, and Laos, as documented by the UN, Interpol, and FBI advisories. Losses exceeded several billion USD in 2023-2024. Defences include public awareness, takedown of fake exchanges, on-chain analytics, and exchange-level blocks on flagged deposit addresses.
● Examples
- 01
A victim met through a dating app is convinced to deposit USDT into a fake exchange and loses the entire balance.
- 02
FBI IC3 reported over USD 3.5 billion in pig-butchering and crypto-investment-fraud losses in 2023.
● Frequently asked questions
What is Pig Butchering Scam?
A long-running romance and investment scam in which criminals build a relationship with the victim, then steer them into a fake cryptocurrency platform that ultimately steals all deposits. It belongs to the Attacks & Threats category of cybersecurity.
What does Pig Butchering Scam mean?
A long-running romance and investment scam in which criminals build a relationship with the victim, then steer them into a fake cryptocurrency platform that ultimately steals all deposits.
How does Pig Butchering Scam work?
Pig butchering — Sha Zhu Pan in Mandarin — describes the practice of fattening a victim emotionally before slaughter. Scammers approach targets via dating apps, social media, or wrong-number SMS, build trust over weeks, then introduce a fake high-yield crypto or forex platform. Victims see fabricated profits, are encouraged to invest more, and are blocked the moment they try to withdraw. Many of the call-centre staff are themselves trafficked workers held in compounds in Cambodia, Myanmar, and Laos, as documented by the UN, Interpol, and FBI advisories. Losses exceeded several billion USD in 2023-2024. Defences include public awareness, takedown of fake exchanges, on-chain analytics, and exchange-level blocks on flagged deposit addresses.
How do you defend against Pig Butchering Scam?
Defences for Pig Butchering Scam typically combine technical controls and operational practices, as detailed in the full definition above.
What are other names for Pig Butchering Scam?
Common alternative names include: Sha Zhu Pan, Romance investment scam.
● Related terms
- attacks№ 1065
Social Engineering
The psychological manipulation of people into performing actions or disclosing confidential information that benefits an attacker.
- attacks№ 821
Phishing
A social-engineering attack in which an attacker impersonates a trusted party to trick a victim into revealing credentials, transferring money, or running malware.
- attacks№ 242
Cryptocurrency Laundering
The process of obscuring the origin of cryptocurrency obtained from crime by moving it through mixers, chain-hopping, and exchanges before cashing out into fiat.
- attacks№ 1059
Smishing
Phishing delivered via SMS or other mobile-messaging channels to trick victims into clicking malicious links, calling fraudulent numbers, or revealing data.
- attacks№ 947
Romance Scam
A long-running social-engineering fraud in which an attacker builds a fake romantic relationship with a victim and then exploits that trust to extract money, gifts, or sensitive information.
● See also
- № 509ICO Scam