Romance Scams and "Pig Butchering": How Fake Relationships Turn Into Fake Crypto Investments
It starts with attention and ends with a request: money for an emergency, or a crypto platform that only ever goes up. Here is how romance and pig-butchering scams work and how to get out.
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📐 Figures verified Sep 28, 2026 against the FBI Internet Crime Complaint Center's 2025 Internet Crime Report and the FTC's guidance on romance scams. Reported losses undercount the real total; most scams are never reported.
Romance scammers build a relationship online, then ask for money for an emergency, or steer you into a fake cryptocurrency investment, the scheme called pig butchering. The FBI logged 23,159 romance complaints and $929.3 million lost in 2025, and investment fraud, where most pig butchering lands, cost $8.65 billion. Someone you have never met in person who asks for money or talks up crypto is a scammer.
Numbers That Matter
| Figure | Amount | Source | Verified |
|---|---|---|---|
| Confidence and romance complaints to the FBI, 2025 | 23,159, up from 17,910 in 2024; $929.3 million lost | FBI IC3 2025 report | Sep 28, 2026 |
| Investment fraud complaints, 2025 | 72,984, with $8.65 billion lost, the costliest crime type | FBI IC3 2025 report | Sep 28, 2026 |
| Warning signs | Can't meet in person, asks for money, pushes investing or crypto | FTC | Sep 28, 2026 |
| Where to report | The FTC, at ReportFraud.ftc.gov | Federal Trade Commission | Sep 28, 2026 |
| What to do next | Stop paying, contact whoever moved the money, keep records | FTC | Sep 28, 2026 |
How Romance Scams and Pig Butchering Work
The contact starts on a dating app, social media, or a "wrong number" text that turns friendly. The person is attentive, often says they work far away (on an oil rig, in the military, overseas), and moves the conversation to a private messaging app. Weeks or months of daily messages build trust, and every plan to meet falls through.
Then comes the money. In the classic version it is an emergency: a medical bill, a stuck shipment, a plane ticket. In pig butchering, the scammer mentions how well they are doing trading crypto and offers to show you. The platform looks real and your balance climbs, so you invest more, sometimes borrowing or draining retirement accounts. When you try to withdraw, there are "taxes" or "fees" to pay first, and then the site and the person disappear. The FBI notes that scammers now use AI to write the messages and fake the profiles.
The Tells
- You have never met in person or on a live, unfiltered video call, and there is always a reason why not.
- They move you off the dating app quickly to a private messaging app.
- They ask for money, gift cards or crypto, or ask you to receive and forward money.
- They bring up an investment or trading platform and offer to coach you.
- Withdrawals need a fee or tax paid first.
The Script to Get Out
Stop sending money, even to "unlock" a withdrawal; each payment is another loss. Tell someone you trust what has happened, and search the person's photos with a reverse image search. You don't owe the scammer an explanation: block them. Expect them to come back with a new story, or with someone posing as an investigator or lawyer who can recover your money for a fee.
If You Already Sent Money
Contact your bank, the payment app or the crypto exchange you used right away, with transaction details and wallet addresses. Report to the FBI at ic3.gov and the FTC at ReportFraud.ftc.gov, and report the profile to the dating app or social network. Keep every message and receipt.
Worked Example
- Month one: a "wrong number" text turns into daily chats. He mentions trading crypto and offers to show you, starting with $500. The app shows $620 a week later.
- Month two: you add $15,000 from savings; the balance shows $24,000.
- Month three: you try to withdraw and are told to pay a 20% "tax," $4,800, first.
- The truth: the platform was fake from the start. Every balance was a number on a screen, and the $15,500 you sent, plus any "tax," is gone.
An illustration of the pattern the FTC and FBI describe.
Decision Rules
If this, then that
- If someone you haven't met in person asks for money → it's a scam, whatever the reason
- If an online contact brings up crypto or trading → end the conversation
- If a platform wants a fee before you can withdraw → stop; it's fake, and paying won't release anything
- If you already sent money → contact your bank or exchange and report to ic3.gov and the FTC
Mistakes to avoid
- Paying a "tax" or "fee" to withdraw your money.
- Hiding the relationship from family and friends.
- Receiving and forwarding money for someone you met online.
- Paying anyone who promises to recover your losses.
Related: First 24 Hours After a Scam gives the recovery steps in order; the Fraud Map shows reported losses per resident in every state; and the Scams & Fraud Protection hub collects every guide.