Investment
Cryptocurrency Investment Scam (Pig Butchering)
A new online friend or partner guides you into a crypto investment that turns out to be fake.
How it works
Someone reaches you by text, dating app, or social media, sometimes as a wrong number that turns friendly. Over time they build trust and mention how much money they make in cryptocurrency, then help you invest through a website or app. Early on, a fake dashboard shows big gains so you invest more. When you try to withdraw, they demand taxes or fees, and eventually the money and the person disappear.
Warning signs
- A stranger or new romantic contact brings up crypto profits
- A website or app shows fast, large gains
- Pressure to invest more and more
- You're told to pay taxes or fees to withdraw
- The platform is one they recommended, not a known exchange
- You can deposit easily but never truly withdraw
The newer AI trick
Scammers use AI chatbots and fake video to keep long, believable conversations going, and AI-built trading sites look polished and real.
What to do
- Stop investing and do not pay any withdrawal fees.
- Do not take crypto advice from someone you met online.
- Talk to a licensed financial advisor or trusted family member.
- Keep records of the website, app, and messages.
If they are still on the line: Do not send more money and do not pay fees to withdraw. Stop contact. A real investment does not come from a stranger who messaged you first.
How to report it
Report to the FBI at ic3.gov, and to the FTC at ReportFraud.ftc.gov or 1-877-382-4357. For elder-specific help, call the DOJ Elder Fraud Hotline at 1-833-372-8311.