A Growing Online Investment Fraud
The Pig Butchering Scam is a new cyber fraud that has become a global threat, specifically targeting unemployed youth, students, and housewives. Fraudsters use fake online identities to gain victims’ trust, convincing them to invest in bogus cryptocurrency schemes. Once they deposit large amounts, the scammers vanish, leaving victims in financial ruin.
The scam gets its name from the process of fattening a pig before slaughtering it—just like scammers first build trust and then steal all the money.
🔹 Fake Identities – Scammers create fraudulent online profiles using stolen or AI-generated images.
🔹 Targeting Victims – They approach victims via dating apps, social media, or random messages with well-prepared scripts.
🔹 Building Trust – Scammers engage victims in long conversations, send gifts, and create an emotional bond.
🔹 Investment Trap – They pose as experienced investors, promoting fake cryptocurrency or forex investment schemes.
🔹 Initial Deposits – Victims are asked to open accounts on fake investment platforms and deposit small amounts, sometimes even withdrawing early gains to build confidence.
🔹 Bigger Investments – Once trust is established, victims are pressured to invest larger sums with promises of high returns.
🔹 Sudden Disappearance – Scammers vanish, delete websites, and may even misuse victims' personal data.
Many victims are also tricked into cyber slavery, where fraudsters force them to engage in illegal online scams under the threat of violence or blackmail. The scam is believed to have originated in China in 2016 and has now spread globally.
✅ Indian Cyber Crime Coordination Center (I4C) is working with Google to track fraudulent activities.
✅ Authorities are monitoring scam advertisements on Facebook and other platforms.
✅ Immediate action is being taken to identify cybercriminals and prevent online fraud.
🚨 Avoid unsolicited investment offers—especially from unknown contacts.
🚨 Verify investment platforms before depositing any money.
🚨 Be cautious on dating apps and social media—scammers use emotional manipulation.
🚨 Never share personal or financial details with strangers online.
