It often starts with what seems like an innocent text message or social media message from a stranger — or someone who appears to know you. Weeks or even months later, what began as a friendly conversation can turn into a sophisticated scam that drains a victim’s life savings.
Known as pig butchering scams, these schemes have become one of the fastest-growing forms of financial fraud in the United States, costing victims billions of dollars each year. Many immigrants have been targeted because scammers exploit language barriers, social isolation, and a lack of access to trusted information.
In these scams, fraudsters spend weeks or months building trust before persuading victims to invest in fake cryptocurrency, foreign exchange, or other investment platforms. By the time victims realize the investment is fake, the money is often gone.
Documented interviewed scam experts and reviewed guidance from the FBI and New York Attorney General Letitia James’ office to explain how these scams work, how to recognize the warning signs, and where victims can turn for help.
What are the warning signs of a pig butchering scam?
“No one is offering free money, especially strangers. The old message remains true: If it seems too good to be true, it probably is,” an FBI spokesperson said in a statement provided to Documented.
Be cautious if someone:
- Contacts you unexpectedly through text, WhatsApp, WeChat, Facebook, Instagram, LinkedIn, or another online platform.
- Quickly asks to move the conversation to an encrypted messaging app such as WeChat, WhatsApp, or Telegram.
- Builds a romantic relationship or close friendship unusually quickly (“love bombing”).
- Encourages you to keep the relationship or investment secret from family and friends, often claiming it involves “insider information” or exclusive investment opportunities.
- Promises unusually high or guaranteed investment returns.
- Pressures you to invest immediately or says you’ll miss a limited-time opportunity.
- Claims to be an attorney, law enforcement officer, or government official and demands additional money. U.S. government agencies do not ask people to send money this way.
- Promises to meet in person or over video but repeatedly cancels or makes excuses. Even video calls can now be manipulated using AI.
- Instructs you to hand cash to a courier, mail checks, deposit money into a Bitcoin ATM, or transfer cryptocurrency.
- Asks for sensitive financial information, copies of your identification, or intimate photos that could later be used for blackmail.
- Encourages you to empty retirement accounts, borrow money, or take out loans to continue investing.
- Refuses to let you withdraw your money or demands unexpected taxes, fees, or additional deposits before releasing your funds.
The New York Attorney General’s Office has published a free guide in English, Chinese, and Korean on how to recognize and avoid pig butchering scams. Share it with your family and friends to help protect them from fraud.
What should I do if I think someone is scamming me?
If you suspect you’re talking to a scammer:
- Stop communicating immediately. The longer the relationship continues, the harder it becomes to recognize and escape the sophisticated scam.
- Do not send any more money, cryptocurrency, gift cards, or cash. Most of these transactions cannot be reversed.
- Research the person’s identity. Search their name and photos online. Scammers often steal real identities or create fake profiles using AI.
- Talk to someone you trust before making any investment decisions.
- Consult a licensed financial adviser or attorney if someone is encouraging you to invest.
- Report the account to the platform where you met the person.
- Save all messages, emails, receipts, and transaction records in case law enforcement needs them.
How can I help older adults?
Older adults are among the groups most frequently targeted. According to the FBI, people ages 60 and older filed more than 201,000 Internet Crime Complaint Center (IC3) reports in 2025, reporting $7.7 billion in losses.
“The problem is when you’re in it, you cannot see these warning signs,” said Erin West, founder of Operation Shamrock and a former California prosecutor. “You are very much wrapped up in what you think is an amazing new relationship.”
West encourages family members to watch for warning signs, including if a loved one:
- Becomes unusually secretive.
- Is constantly texting or on the phone with someone they have never met.
- Withdraws from family and friends.
- Suddenly starts talking about cryptocurrency investments.
- Makes unusual withdrawals or transfers of money.
What should I do if I already sent money?
If you have already sent money:
- Contact your bank or financial institution immediately. They may be able to stop or trace some transactions.
- Report the scam to the FBI’s Internet Crime Complaint Center (IC3).
- Report the scam to your local police department. Even if they cannot recover your money, filing a report helps law enforcement understand the scope of the problem and protect others in your community.
- Report the scam to the New York Attorney General’s Office by filing an online complaint or calling 1-800-771-7755. The office says identifying information will be protected according to state law.
- If you are not fluent in English, seek help from a trusted community organization or ethnic media outlet. They may be able to connect you with FBI Community Outreach Specialists or other resources. The Chinese American Anti-Fraud Alliance is a nonprofit that supports and advocates for Chinese victims of pig butchering scams.
