A pig-butchering scam is a type of online fraud where the victim is encouraged to make increasing financial contributions over a long period, usually in the form of cryptocurrency. The term compares the initial phase of gaining the victims’ trust to the fattening of pigs before slaughtering them. Such scams are commonplace on social media and dating apps, and often involve elements of catfishing (using false identities), investment fraud, and romance scams.
The scammer builds trust with the victim through online communication, subsequently persuading them to invest in a fraudulent cryptocurrency scheme. Perpetrators are typically victims of a fraud factory, where they are lured to travel internationally under false pretenses, trafficked to another location, and forced to commit the fraud by organised crime gangs.
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The Daily Omnivore 