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What is the Pig Butchering Scam?

Pig Butchering Scam

The “pig butchering” scam, also known as the “sha zhu pan” scam, is a disturbing new trend in online fraud that’s been gaining traction in recent years.

The scam gets its name from the way the scammers “fatten up” their victims by building trust over an extended period before eventually “slaughtering” them and taking their money.

Here’s how it typically works: the scammer will reach out to the victim on a social media platform or dating app, often posing as an attractive, successful individual.

They’ll start building a relationship with the victim, chatting with them regularly and establishing a sense of intimacy and trust. This “fattening up” period can go on for weeks or even months.

Once the victim is sufficiently “fattened,” the scammer will start bringing up investment opportunities, often in cryptocurrency or forex trading.

They’ll claim to have insider knowledge or special trading strategies that guarantee huge returns with little to no risk. The victim, trusting the scammer and eager to make some easy money, will start investing.

At first, everything seems to be going well. The scammer will show the victim fake trading statements and account balances indicating massive profits.

Encouraged by these early “successes,” the victim will invest more and more money. But when they eventually try to withdraw their funds, they’ll find that they can’t.

The scammer will come up with excuses, asking for more money to cover taxes or fees, or will simply disappear altogether, leaving the victim high and dry.

The pig butchering scam is particularly insidious because it preys on people’s emotions and exploits the natural human desire for connection and affection. The scammers are skilled at building trust and will often spend months grooming their victims before making their move.

So, how can you protect yourself from falling victim to this scam? First and foremost, be extremely wary of unsolicited investment opportunities, especially those that come from someone you only know online.

If it sounds too good to be true, it probably is. Do your due diligence and research any investment thoroughly before putting your money in.

Additionally, be cautious about sharing personal information or sending money to someone you haven’t met in person, no matter how strong your online connection may seem.

Scammers are skilled at manipulating emotions, so trust your gut if something feels off.

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