A stranger online — on Facebook, dating apps, or a “wrong number” text — builds a friendship or romance over weeks or months, then introduces a “great investment opportunity.” It is a scam. The FBI says crypto investment fraud cost Americans $7.2 billion in 2025. In April 2026, Dubai Police arrested 276 scammers running these operations.
How This Scam Works
“Pig butchering” is a translation of the Chinese phrase sha zhu pan — “pig butchering plate.” Scammers call victims “pigs” because they fatten them up with affection and trust over weeks or months before “slaughtering” them financially. The name is ugly because the practice is.
It usually starts with an unexpected text — “Hi David, are we still on for lunch tomorrow?” — sent to a wrong number. Or a friend request from an attractive stranger on Facebook. Or a match on a dating app. The conversation feels innocent. The person is warm, attentive, available. They share photos of an expensive lifestyle. They build a relationship — and they are patient. They will spend three months earning your trust before they ever mention money.
Eventually they introduce an “investment opportunity” — usually cryptocurrency, sometimes gold or foreign exchange. They show you a fake trading platform that looks real, with charts, profits, and your account growing. They may even let you “withdraw” a small amount early so you trust the platform. Then you put in your real savings. Then they disappear with everything.
The FBI’s IC3 2025 Annual Report found that adults 60+ lost $7.7 billion to fraud in 2025 — a 59% increase. Investment fraud, dominated by pig butchering, was the largest single category at $3.5 billion. Operation Level Up — the FBI’s victim notification effort — has notified 8,935 victims, with 77% of them unaware they were being scammed when contacted.
What They Actually Say
The “wrong number” opening is intentional. It feels organic. It does not feel like a pitch. Within a week the scammer is texting daily. Within a month they are calling you sweetheart. Within three months they are mentioning their “uncle who works in cryptocurrency” or “an investment platform that has been very good to me.” That is when the real scam begins.
A Real Story
Documented by the National Council on Aging
He believed he was in a relationship. She was warm, attentive, and never asked for anything for months. When she introduced a cryptocurrency investment, he invested cautiously at first. The platform showed him profits. He invested more. By the time he tried to withdraw, the money was gone, the platform had disappeared, and “she” had stopped responding. The FBI’s Internet Crime Complaint Center identified him as one of thousands of similar cases. In a separate case, an older widow in California lost nearly $1 million the same way.
What To Do · What To Never Do
After You Hang Up
This guide covers one of 222 documented scams targeting Maryland’s older adults. Every variant we track lives in the encyclopedia, searchable by name, situation, or what they said to you.
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