These scams are carefully scripted and run by organized groups. Victims include professionals, retirees and people who are careful with money. It is not your fault.
Below we explain how the scheme unfolds, the lines scammers use, what happens to the money, and what you can do now.
Romance and “pig-butchering” scams
'Pig-butchering' is the scammers' own name for the scheme: the victim is 'fattened' with attention and fake profits before everything is taken. It combines a long online relationship — romantic or friendly — with a fake investment platform.
Many of the people sending the messages are themselves working under coercion in large scam compounds, following written scripts and rotating through dozens of conversations at once. The profile photos are usually stolen from real people.
Because the relationship comes first, victims often invest far more than they would with a stranger, and the losses are frequently life savings, retirement accounts or borrowed money.
Who gets targeted
Targets are often people who are widowed, divorced, new to a city or recently retired — but anyone can be drawn in by months of consistent, attentive contact. Shame keeps many victims from reporting; please don't let it.
How it works, step by step
- 1Step 1
A friendly first message
A dating app match, a social media follow, or a 'sorry, wrong number' text. The person is polite, attractive and successful — often in business, medicine or finance.
- 2Step 2
Weeks of daily contact
Good-morning messages, photos of meals and travel, shared worries. The conversation moves quickly to WhatsApp, Telegram or another private app. Money is not mentioned for a long time.
- 3Step 3
The investment is introduced
They mention, almost in passing, that they earn extra income trading crypto with help from an 'uncle' or 'mentor', and offer to show you how. They insist it is your decision.
- 4Step 4
Small wins
You open an account on the platform they recommend and make a small deposit. The balance grows quickly and you may be allowed one small withdrawal to prove it works.
- 5Step 5
Pressure to invest more
Special 'windows' or 'VIP tiers' require larger deposits. Some victims are encouraged to take loans, borrow from family, or move retirement savings.
- 6Step 6
Withdrawal blocked, then silence
When you try to withdraw, fees and taxes appear. If you hesitate, the person becomes upset or disappointed. Once you stop paying, they vanish — and recovery scammers often follow.
Where the money goes
The money moves exactly as with other fake investment platforms: from a regulated exchange in your name, to a deposit address controlled by the group, then through chains of intermediary wallets.
Because these groups move very large volumes, their wallets are often linked to other victims' funds. That can help analysts recognize the cluster and identify the exchanges and over-the-counter desks the group uses to cash out.
Acting while funds are still sitting at an identifiable exchange or as freezable stablecoins gives the best chance of preservation.
What to watch out for
They won't video call
There is always a reason: a broken camera, a bad connection, a demanding job. Or the video call is very short and blurry.
The topic turns to crypto
Someone you have never met in person starts talking about investment returns and offers to teach you.
Secrecy
They ask you not to tell family, friends or your bank about the relationship or the investment.
Urgency and guilt
Limited-time opportunities, disappointment when you hesitate, or pressure to 'trust them'.
Their photos appear elsewhere
A reverse image search shows the photos under different names or belonging to a real person.
Things scammers say
“I don't usually share this, but my uncle taught me a strategy that has never lost.”
“I only want you to have a secure future with me.”
“Don't tell your kids yet — let's surprise them when we have enough.”
“If you don't pay the tax now, the platform will confiscate everything.”
What to do right now
- 1
Stop all payments
No further deposits, fees or 'taxes', and no loans on their advice.
- 2
Don't confront or warn them
Keep the conversation history intact. Don't announce you are going to the police; scammers may delete accounts and move funds faster.
- 3
Save the evidence
Export the chat history, save profile links and photos, and keep every transaction record.
- 4
Report and talk to someone
Report to police and the Canadian Anti-Fraud Centre, and tell someone you trust. You are not alone and it is not your fault.
What to gather for your case review
- The full chat history (exported from WhatsApp, Telegram, etc.) and profile links
- Transaction IDs (hashes) and destination addresses for every transfer
- Statements from the exchange you bought crypto on
- The platform's website or app name, and screenshots of your balance
- Any loan or bank records connected to the transfers
Ask for your recovery phrase or private key — never.
How we can help
What we can do
- Trace the funds and identify exchanges where they were cashed out.
- Request preservation or freezing of funds at those exchanges.
- Prepare the evidence for police reports and, where needed, for court action by independent partner lawyers.
What we cannot do
- We cannot guarantee recovery or say how long it will take.
- We cannot identify a scammer from a profile photo or chat alone.
Related case results
Romance scamA client lost about $51,500 to someone she met online. We identified the scammer and reported him to the authorities in Nigeria; after his arrest, $30,000 was returned to her.
- A discreet, judgement-free assessment
- Examining the transactions
- Preserving evidence and reporting
- Lost
- $51,500
- Returned to client
- $30,000
Frequently asked questions
Is the first case review really free?
Yes. It costs nothing and does not commit you to anything. We will tell you honestly whether we think your case can succeed — and if we don't think we can help, we'll say so and point you to what you can do next.
What information should I have ready?
Whatever you have: transaction IDs (hashes), wallet addresses you sent to, the name and website of the platform, screenshots of chats and of the platform, exchange statements, and your police or CAFC report number.
Never send us your recovery phrase, private keys or passwords. We do not need them.
I feel embarrassed. Will this stay confidential?
Yes. Everything you tell us is kept strictly confidential and handled under our privacy policy. These scams are run by professional criminal groups and target careful, intelligent people every day.