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Pig-butchering investment scam

A long-running scam blending romance and crypto investing — they 'fatten you up' before taking everything.

MigrantCrypto

How it works

A stranger messages you on WhatsApp, LinkedIn, Tinder or a 'wrong number' text. Over weeks they build trust and friendship, then casually mention a crypto or gold trading platform their 'uncle' built. Small test withdrawals work. As you invest more the 'profits' soar — but when you try to cash out, you face endless 'tax', 'audit' and 'unlock' fees. The platform is fully fake.

Common scenarios to watch for

This scam shows up in several different shapes. Recognise the pattern, not just one message.

Reporting locationHotlines on the printed checklist will match this location.

'Wrong number' that becomes a friendship

A polite stranger texts you 'by mistake', apologises, and keeps chatting. Over weeks they share life details, photos, voice notes — then casually mention a trading app.

"Sorry wrong number 😅 but you seem kind. I'm Lily, a tea importer in Sydney. How's your week?"

Red flags to spot

Did a stranger contact you 'by accident' and keep messaging?
Are they unusually attentive and asking about your finances or job?
Have they shown you screenshots of investment profits?
Have they mentioned a 'family member' or 'uncle' with insider tips?

The fake trading platform dashboard

They introduce a slick-looking app or website where you can 'trade' gold, crypto or forex. Your balance climbs rapidly to encourage bigger deposits — the numbers are completely fabricated.

"Look, in 6 weeks my $20k turned into $84k. Open an account at xau-global.pro and I'll mentor you."

Red flags to spot

Is the platform NOT listed in Apple/Google app stores?
Does it not appear on ASIC's licensed list or warn-list?
Are profits shown in a private dashboard you can't verify externally?
Were you invited only via this person — never advertised publicly?

Withdrawal 'tax' and 'audit' fees

When you try to cash out, the platform demands a 20% 'tax', then an 'anti-money-laundering audit fee', then a 'VIP unlock'. Each fee paid only triggers another.

"Congrats on the $180k profit! To withdraw, please pay 18% capital gains tax ($32,400) in USDT first."

Red flags to spot

Are you being charged fees to withdraw your own funds?
Does every paid fee uncover a new fee?
Is support only via chat, never phone or video?
Has your contact suddenly become more emotional, urging you to pay just one more time?

Red flags

🚩Stranger who messaged 'by mistake' and keeps chatting
🚩Pushes a private trading platform, app or web link not on app stores
🚩Shows you their lifestyle and 'profits' as social proof
🚩Small withdrawals work; large ones suddenly require taxes or fees
🚩Won't video-call live or always has a reason their camera is broken
🚩Account dashboard shows huge gains you can't independently verify

What to do

1Stop sending money immediately — sunk-cost fees are part of the scam.
2Do NOT pay 'release', 'tax' or 'audit' fees to withdraw funds.
3Screenshot all chats, wallet addresses and transactions before they vanish.
4Report to AFP-led JPC3, Scamwatch, and the crypto exchange you sent funds from.
5Talk to IDCARE for emotional and recovery support — this is rarely just about money.