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What is a pig butchering scam?

Don’t trust that unexpected text or direct message from a stranger—it might be the first step in a “pig butchering” scam. These scams often involve fraudsters contacting targets seemingly at random, then gaining trust before ultimately manipulating their targets into phony investments and disappearing with the funds.

How many pig butchering scams were seized in 2021?

In 2021, the FBI’s Internet Crime Complaint Center received more than 4,300 submissions related to pig butchering scams, totaling more than $429 million in losses. And at the end of November, the US Department of Justice announced that it had seized seven domain names used in pig butchering scams in 2022.

What should I do if I get caught in a pig butchering scam?

What to do instead: If you suspect you might be caught up in the early phases of a pig butchering scam, but are able to withdraw money, make your withdrawal immediately and stop right there. Quit while you're ahead, and don't invest another dollar. End all contact with the people, and block their numbers .

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