Pig butchering – how to spot and report the scam

Learn about the most common crypto investment scheme.

Pig butchering is an investment scam where fraudsters gain the trust of victims over time and then deceive them into investing in fake crypto assets or another fraudulent investment opportunity. The term refers to the agricultural practice of fattening pigs before slaughter, symbolizing how scammers “fatten” their victims with false attention before exploiting them financially.

Reporting crypto scams

It is important to submit a complaint with the DFPI on crypto scams quickly. In order to find your crypto on the blockchain, you must provide complete and accurate information. The types of information investigators will request include:

• Identifying information about the scammer(s). Although the profiles of the scammer(s) may be fake, any information can be useful, such as phone numbers, usernames, email addresses, and social media handles.
• Website addresses. Include all website addresses associated with the scam.
• Screenshots. Provide clear screenshots from your computer or screen grabs/recordings from your phone of the scammer’s social media profile.
• Transaction details. Always keep records of financial transactions, especially with crypto assets. To avoid errors, copy and paste this information into your complaint rather than type it manually. For each transaction, provide:
• Date transaction(s) took place
• Amount(s) sent and type of digital asset (e.g. 0.5 ETH)
• Wallet address associated with the scammer
• Transaction hash/ID (or receipt) associated with the transaction

For example:

“12/22/24 – Sent 0.5 ETH to 0x…”

“On Dec 22, 2024, I sent 0.5 ETH to 0x…”

“Sent 0.5 ETH, tx hash: 0x230q24f…23”

Before you invest, check our crypto scam tracker

Our Crypto Scam Tracker is a valuable resource for consumers navigating the risks associated with crypto assets. Find scam reports by company name, scam type, or keywords. It also has an accompanying glossary that defines common fraud tactics, equipping consumers with knowledge to recognize and avoid scams.