Pig Butchering Scam: New methods of fraud keep emerging in the online world. One such new method is - "Pig Butchering Scam", which has troubled people. The Union Home Ministry said in its recent report that this 'Pig Butchering Scam' mostly targets unemployed youth, housewives, and students, due to which they lose their hard-earned savings. Let us know what this Pig Butchering Scam is and how it makes people its victims.

What is a Pig Butchering Scam?

"Pig Butchering Scam" literally means "pig slaughtering scam." As the name suggests, just like a pig is fed and fattened before slaughtering, similarly in this scam, scammers fill a person with full trust and greed before robbing him, after which he is robbed in one go.

This scam usually comes in the form of a romance scam, a cryptocurrency investment scam, or a fake online business offer.

How does the Pig Butchering Scam work?

1: Building trust

Scammers contact the target on social media, dating apps, or messaging platforms. They pretend to be friends or have a romance.

2: Emotional trap

They gradually gain trust by making the conversation personal. They use fake photos and stories to make their profiles look real.

3: Investment advice

Once trust is built, they suggest some "amazing investment plan." Often it mentions cryptocurrency trading or a fast-growing business.

4: Grabbing money

When the target invests a large amount, the scammers break contact and disappear with the money.

How is the Pig Butchering Scam identified?

Sudden proposal of friendship or romance:
If a stranger suddenly tries to mingle with you.

Attractive investment schemes:
If someone promises high returns with a guarantee.
Fake websites and apps:
Scammers often use fake platforms that look real.
Pressure to invest money quickly:
If someone asks you to make a decision immediately.
How to avoid this scam?
Trust with caution:
Do not trust a stranger immediately.
Invest wisely in cryptocurrency:
Do not invest money without research.
Do not share personal information:
Keep your banking details or identity information confidential.
Be cautious on online platforms:
Check any link before clicking it.

Disclaimer: This content has been sourced and edited from ZEE Business Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.