Pig farmers take time to bring their hogs to high market value before sending them to the slaughterhouse. This investment yields larger returns for the farmer, who will have more meat to sell from taking time to fatten up the unsuspecting pig.
Likewise, Pig butchering scams involve the perpetrator “fattening up” their target through social engineering tactics and promises of lucrative investment returns before “slaughtering” them by severing ties once their finances have been drained. Originating in China in 2019, these crypto scams have spread around the world due to their profitability.
From 2020 to 2024, it is estimated that pig butchering scams have stolen over $75 billion in crypto exchanges to fraudulent investment portfolios(1). This accounts for nearly 1% of all crypto transactions per year(2), making it one of the largest current crypto scams. These numbers are only likely to grow with total transactions on a steady annual rise.
While it may seem impossible to navigate the crypto realm safely, there are steps you can take to avoid these scams. Working with cybersecurity professionals like those at Digital Forensics Corp. can help you learn the risks of these scams, establish prevention protocols, and take actionable steps to recover if you’ve already fallen victim.
Understanding the Three Phases of a Pig Butchering Scam
Pig butchering scams typically follow a similar three-step process which usually progresses somewhat slowly over a period of time. They may entrap their target in a romance scam through flattering and flirtatious messages or promise otherworldly wealth in an investment fraud scheme.
Regardless of how they lure in their victims, these bad actors take time to establish rapport with their target before taking their money and taking off. They may even allow an initial withdrawal of funds to ensure victims believe the investment is legit. However, it will eventually become apparent that the victim will not have access to their pretend portfolio.
The “Butcher” and the “Pig”
As previously mentioned, these scams get their name from an analogy to raising pigs for slaughter, with the scammer being the “butcher” and the victim their prized sow.
Perpetrators often reach their victims by feigning that they’ve entered the wrong number. Once they’ve established this initial contact, they begin building a relationship, claiming fate must’ve brought the two parties into meeting.
The time this takes varies depending on the target’s openness to building a relationship. These scammers are committed to the long game, establishing connections with their symbolic swine over an extensive period of time.
The Romance and Trust Stage
Scammers will set up a network of their fake online identity across multiple online platforms to increase the believability of their ploy. They often pose as attractive, wealthy individuals to open their attack avenue to a hybrid of both romance and investment scams.
They often inhabit dating sites to seek out individuals who will be open to online romance. These individuals will be more likely to go along with the scheme, whether it be unknowingly trusting their new love interest or voluntarily carrying out their dirty work.
This is done through social engineering tactics that play on the target’s emotions. Once this baselevel trust is established, the scammer will begin introducing the idea of an investment opportunity.
The Investment Pitch and “Slaughter”
Under the façade of a well-off investor, these scammers can deceitfully pitch opportunities to their new contacts that seem believable. Afterall, the target believes this is someone who has found success financially and has their best interests at heart.
These preliminary propositions are often accompanied by fake investment websites that display dishonest dividends that will prompt the victim to invest more. Additionally, they may even allow for calls with the alleged account manager and small withdrawals at the start to add to the scheme’s plausibility.
After an initial investment is made, the requests for further deposits only escalate in frequency and value. All the while, the fictitious brokerage site shows increasing returns that prompt the victim to continue until they have nothing left. At this point, the scammer will sever all ties and “slaughters” the crypto scheme.
Recognizing the Red Flags of Pig Butchering Scams
Since these scams often follow a similar blueprint, there are typical warning signs that appear within the process of a pig butchering scam. Knowing what to look for can make the difference between secure online interactions and the potential loss of your life savings.
Unrealistic Promises and Returns
These scams rely on the pretense that victim will see plentiful payoff from their participation. In one instance, a man from Denver was shown his fraudulent account had reached $8 million dollars in value, leading him to invest a total of $1.6 million dollars that he never recovered(3).
If returns like that sound too good to be true, it’s likely an investment fraud scam. If you are encountered by an alleged online entrepreneur that is seemingly offering to make you rich out of the kindness of their heart, trust your gut and cease communication despite their enticing extension.
Pressure and Urgency
Another tell of a cryptocurrency scam is the perpetrator creating a sense of urgency. They often make it seem as though the offer will only be available for a limited time and that the target needs to act quickly to take advantage.
Since these scammers are posing as successful investors, they are able to manipulate their victims into jumping on these orchestrated “opportunities” behind their portrayed knowledge of the market.
They may employ social engineering tactics to make the victim feel as though they are part of an exclusive group with access to such an opportunity. Another common route to relinquishing the victim’s resistance is through romance scam tactics such as promising the financial security of their future together.
Fake Trading Platforms and Apps
As mentioned, these scams often include falsified exchange platforms and crypto wallets to uphold their verisimilitude. These platforms often show astronomic returns and offer opportunities that feel like their plucked out of a dream.
These are tell-tale signs of a fraudulent crypto exchange. You can verify the legitimacy of an exchange by closely inspecting the domain name and URL, seeking reviews on online forums, or searching the exchange registry of your national regulatory agency.
Isolation and Control
As is common with many romance scams, the perpetrators of pig butchering ploys often isolate their victims from family and friends. This enables the cybercriminal to easily manipulate the victim without interference from their support group.
They may guilt trip the victim into abandoning any close connections that are opposed to their “relationship” by manipulation the victim’s emotional dependency. This can be done by creating sob stories or questioning the victim’s dedication to the fabricated fellowship.
The Digital Footprint of Pig Butchering Scams
Like any online interaction, Pig butchering scams leave behind a trail of data that can be used to track down the perpetrator. Working with Digital forensics experts can allow you to abstract evidence from this digital footprint, construct a timeline of the attack, and successfully recover from the scam.
Tracing Cryptocurrency Transactions
All cryptocurrency exchanges are tracked and validated on the blockchain. As such, analyzing blockchain activity can allow digital forensics experts to uncover fraudulent activity and track the relocation of your funds.
The discrete nature of these transactions, the ability to switch between blockchains, and programs that mask IP addresses like VPNs all pose challenges to tracking cryptocurrency exchanges. However, digital forensics experts can use cutting-edge tools and techniques to break through this anonymity and trace their digital shadow.
Network analysis, data scraping, chain-hopping tracking tools, and AI machine learning can help investigators identify unusual activity, track blockchain transactions, and identify perpetrators through their digital footprint. However, it is crucial to begin investigation as soon as possibly for the best chances of recovering funds.
Analyzing Social Media and Communication Data
Digital forensics experts can also track and analyze online communication across multiple online platforms to reveal fake profiles. These professionals are able to uncover the digital footprint of cybercriminals by studying metadata within conversations and investigating network traffic.
Many platforms allow users to delete messages on both their end and the recipient’s. However, this data can be retrieved with the right tools, and digital forensics analysts have them. They can utilize advanced retrieval software, hard drive imaging, data backup analysis, and manually piece together device storage to access deleted data.
The best method for handling scams ran by fake social media profiles is avoiding them before they start. Some signs that can help you recognize a pretender’s profile include:
- Accounts that have been recently created, have generic profiles, and have a small number of followers should cause concern.
- Individuals who “lovebomb” you by quickly entering a heavily flirtatious conversation are likely initiating a romance scam.
- Any unsolicited offers or advise from strangers online are a common indicator of an investment fraud scam.
Identifying Fake Trading Platforms and Websites
The experts can also recognize fraudulent crypto exchange platforms. Their experience investigating these schemes allows them to pick up on signs of fake websites that may not be obvious at first glance.
Digital forensics professionals can analyze domain data, SSL certificates, and inspect the source code of the site to detect forged websites. Some preliminary measures you can take on your own to scan for fake websites include:
- Looking for inconsistencies in domain name or URL compared to the legitimate site. Many fraud websites change the name or URL by one letter to appear the same at first glance.
- Scanning for spelling or grammatical errors on the page. Like many phishing scams, the cybercrime rings are often housed outside of the U.S. and are poorly generated through bad translations.
- Closely examining logos and other digital assets on the page. Many scammers can’t gain access to high-resolution assets that the legitimate company owns, so their fraudulent websites use low-resolution downloads instead.
Recovering from a Pig Butchering Scam: The Role of Digital Forensics Corp.
Victims of pig butchering scams and any other online crime don’t need to look any further for assistance. DFC is here, and we’ve helped thousands of individuals in your same position recover from cyber scams.
Our years of experience have helped us develop proven methods and stay ahead of cybercriminals. This allows us to collect evidence, create detailed reports, recover lost assets, and prevent future attacks.
Incident Response and Investigation
In the event of pig butchering scam, we can help you investigate the attack. We know what caution needs to be taken to properly collect and preserve evidence and we can organize it in a manner that can be used for legal action.
We can collect and analyze metadata and network traffic to work around a cybercriminal’s defense and document their digital footprint. We employ device imaging to ensure the data is preserved and can help you construct an accurate timeline of events.
Cryptocurrency Recovery and Tracing
We have access to state-of-the-art tools and techniques that position us to trace crypto transactions despite the discrete nature of the currency. This enables us to track the web of people who have accessed your fraudulent investment for your report.
After we’ve conducted our investigation and documented evidence, we can connect you with police precincts around the world with jurisdiction to take legal action against the perpetrator. Additionally, we provide ongoing monitoring to help protect you from similar scams in the future.
We understand the steps that need to be taken to properly crack the anonymity of cryptocurrency scams. However, the biggest factor in successfully recovering funds is acting quickly, so don’t let another second tick away.
If you have fallen victim to a pig butchering scam, get the help you need to recover. Call our Blackmail Helpline today to speak with one of our specialists free of charge.
Sources:
- $75 Billion Lost to Pig-Butchering Scam, New Study Estimates | TIME
- TRM – 2025 Crypto Crime Report
- Denver man loses $1.6 million in new cryptocurrency scam
DISCLAIMER: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSIDERED LEGAL ADVICE ON ANY SUBJECT MATTER. DIGITAL FORENSICS CORP. IS NOT A LAWFIRM AND DOES NOT PROVIDE LEGAL ADVICE OR SERVICES. By viewing posts, the reader understands there is no attorney-client relationship, the post should not be used as a substitute for legal advice from a licensed professional attorney, and readers are urged to consult their own legal counsel on any specific legal questions concerning a specific situation.
