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Glossary entry

Pig Butchering Scam

Wallets & Security

A long-run confidence fraud where a relationship comes first and a fake investment platform second. Small withdrawals work; large ones do not.

Definition

A pig butchering scam is a long-running confidence fraud that builds a personal relationship before ever mentioning money. Contact usually begins as a wrong number, a dating match or a friendly message on a social platform, and continues for weeks with no request attached. Investment enters as something the other person happens to do well, on a platform they recommend — often a convincing app or website that displays balances and profits that are not real. Small withdrawals are honoured early, which is what converts scepticism into confidence and prompts larger deposits. When a large withdrawal is attempted, fees, taxes or a compliance hold appear, each requiring more money. The structural tell is the sequence: the relationship precedes the pitch, the platform is introduced by the person rather than found independently, and withdrawals become conditional exactly when the balance is large.

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