What is a pig butchering scam and how does it start?
A pig butchering scam is a long con: someone befriends or courts you online for weeks, then "shares" a crypto or trading platform where they are making money, and leads you to invest more and more until the platform stops letting you withdraw. The name comes from fattening the victim before the slaughter.
It often starts with a "wrong number" message, a dating app match or a friendly stranger on social media. No money is mentioned for a long time. Then the person shows screenshots of their profits and offers to teach you. The first small withdrawal works, so you invest more. When you try to take out a larger amount, there is a tax, a fee or a frozen account.
Veritaza cannot check an investment platform, but it can check the person: stolen photos, copied messages and a number that does not match the story are common in these scams.
The signs, stage by stage
- A stranger starts a conversation out of nowhere and keeps it going for weeks without asking for anything.
- The person is wealthy, lives abroad and has an uncle, mentor or inside source for investments.
- You are invited to a platform or app that you cannot find on the SEC website or in an official app store.
- Small withdrawals work; a big one needs a tax or a fee first.
- Stop at the first invitation to invest. Check the person's photos and messages, and check the company with the SEC before sending anything.
Frequently asked questions
- I already withdrew profits once. Does that mean it is real?
- No. Letting you withdraw a little is part of the script, to make you invest more.
- Is pig butchering the same as a romance scam?
- It is a romance or friendship scam combined with an investment scam. The relationship is the bait; the platform is the trap.
Want to know if there are warning signs about the person you are talking to? Veritaza checks the photos, the messages, the number, the email, the name and the ID, for ₱199.
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