What is Pig Butchering?

The woman convinced the teacher to invest in a trading platform. Blinded by love, he eagerly did what she asked. Over the weeks, he transferred ₹49 lakh into different accounts provided to him.

An account on the supposed trading platform showed profits. When he attempted to withdraw some money, he was told that he would have to pay a significant sum to release his earnings. When he refused, the woman threatened him, which immediately raised his suspicions.

The teacher immediately filed a report to the cyber police, who told him it was a fraud and began an investigation. This particular fraud is known as pig butchering and is one of the most common, calculated, and psychologically devastating in existence today.

Pig butchering refers to a sophisticated scheme where a scammer wins over the trust of their potential victim first. It is called pig butchering because just like how a pig is fed over months, fattened up, and then slaughtered, a person is made to feel good and let their guard down and metaphorically slaughtered through swindling them.

They find victims in a variety of different ways. Sometimes they do it through dating apps or matrimonial portals. On other occasions, they approach them through social media. Very often, the scammer sends a random message, such as inviting someone to a birthday party, then says they sent it to the wrong number when the person replies, but insists on getting to know them anyway.

The scammer feigns either romance, friendship, or a business partnership. They tend to be very charismatic and emotionally perceptive, which lets the victim’s guard down. Harmless conversations carry on for weeks and even months. Gradually, their trust is won over.

The person feels secure and does not for a minute think they are dealing with a scammer. Which is exactly what the scammer intended. They then propose investments. The person carrying out the fraud will talk about certain investments, often in cryptocurrency. With a good relationship being established, the victim thinks they are being given good advice.

They start making investments based on what the scammer has told them, and are shown a screen of exceptional returns, which is fake. Then, when they try to withdraw money, the scammer either disappears, tells them they have to pay more, or gets abusive.
Also Read:What is the Dating App Scam?

• Avoid entertaining messages from unknown people. Pig butchering schemes often start with a simple ‘hi’ message with nothing more. Or it will be some very random message. If somebody actually has important business with you they will state it upfront and not beat around the bush. They will be clear in their communication and tell you exactly why they want to talk to you.
• Be wary of any investment opportunity offered by someone. In general, no investment decision should be made in a hurry. They must always be carefully considered and thought through. Deep research is necessary. Before making the decision you should know the exact possibility of returns, losses, or risks. An investment made based on words alone is almost certainly a fraud.
• Unless you meet someone in person, do not trust them. Someone you are talking to online is practically unknown. You have never met them, seen how they speak, how they react, and how they listen. Only interacting with them online gives you no information whatsoever. Even people close to you will not push you to make any investments.

Pig butchering doesn’t just lead people to lose large amounts of money. The feelings of shock, betrayal, and disappointment are difficult to handle emotionally. Victims of these scams are left traumatized because their emotions are played with. However, falling victim to such a scam can be avoided as long as you stay alert and wary of anybody you meet online.