Romance investment scams ('pig butchering'): when love comes with a crypto 'opportunity'
It starts with a message that looks like a mistake, a match on a dating app or a comment on social media. On the other side is someone attractive, polite and with an interesting life. You talk every day for weeks. Then one day, almost in passing, they mention they make a lot of money investing in crypto and offer to teach you. It is one of the scams that steals the most money per victim. It is known as pig butchering, because the scammers invest time in “fattening up” your trust before taking everything.
How it works
- First contact. A “sorry, wrong number” on WhatsApp, a message on Instagram or LinkedIn, a dating app profile.
- The relationship. Weeks of daily chats, photos, voice notes and sometimes promises of a future together. They rarely accept video calls, or they are short and low quality.
- The “casual” investment. They talk about their profits without pressure. When you show interest, they introduce a platform or app “their uncle” or “their mentor” uses.
- First profits. You invest a little and watch it grow. You may even be allowed to withdraw a small amount so you trust it.
- The blow. They encourage you to invest more, sometimes with loans or your savings. When you try to withdraw, you are asked for taxes or fees. If you hesitate, the relationship turns into emotional blackmail.
Warning signs
- Someone you have never met in person brings up investing.
- They avoid video calls or always have an excuse not to meet.
- Their life looks like a catalogue: travel, cars, international business.
- You have never heard of the platform and only they recommend it.
- They ask you not to tell family or friends “because they wouldn’t understand”.
- They push you to invest more when you hesitate, or get angry.
How to check
- Reverse image search their photos on Google or other search engines. They are often stolen from models or influencers.
- Check the platform on your regulator’s register: how to check if a broker is regulated. And search it on InvestRedFlags.
- Tell someone you trust. An outside view sees what you cannot see from inside.
If it has happened to you
It is not your fault: these scams are run by professional organisations that spend weeks on each victim.
- Stop sending money, even if they promise it is “the last payment”.
- Call your bank as soon as possible and ask to reverse the payments.
- Report it to the police and keep all conversations.
- Beware of anyone offering to recover the money: that is the second scam.
Follow all the steps in our victim guide.