"One of the UK's leading specialists in financial mis-selling…"
The Times
A pig butchering crypto scam is a long-term type of scam where scammers develop a relationship with their victim over several interactions, either online or by phone. Unlike one-off scams, they build trust with the victim, believing they are in a romantic relationship or even a friendship.
Once trust is established, the scammer introduces a fake cryptocurrency investment opportunity, promising huge returns. They often use fraudulent websites, apps, or platforms that display fake profits to convince the victim to invest repeatedly. When the victim either tries to withdraw funds or stops investing, the scammer disappears with the stolen money.
Unlike other common scams that pressure victims into transferring money immediately, pig butchering scams start with casual contact, often with no connection to money or investments. This lowers the victim’s guard, making them unsuspecting.
The two most common ways scammers make contact are:
1. Through Facebook or dating apps, where they build a fake romantic relationship.
2. Via a “wrong number” text or cold call that leads to a developing friendship.
After multiple interactions, the fraudster gains the victim’s trust and assesses their financial situation. Once they see potential, they introduce a so-called “investment opportunity,” often in cryptocurrency.
Scammers favour crypto because it’s hard to trace and has seen massive growth—supporting their false claims of high returns. They often pretend to have made huge profits themselves, encouraging the victim to do the same.
The victim is directed to a fake crypto trading platform or exchange and encouraged to “start small.” The fraudulent website will show fake profits, convincing them to invest more. In reality, all funds go straight to the scammer.
Some victims are tricked into transferring cryptocurrency they already own or buying crypto on a legitimate exchange before unknowingly sending it to the fraudster.
The fraud typically ends in one of two ways:
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Fake crypto exchanges or clones of the real ones (like Coinbase or Binance), tricking victims into investing through fake accounts that show false profits to encourage further deposits.
Scammers promise guaranteed returns by using AI to exploit small crypto price differences across exchanges but steal the funds instead.
A fraudster develops an online romantic relationship with the victim, gains their trust, and then persuades them to invest in a fake crypto scheme.
Scammers use Facebook, Instagram, or messaging apps to build fake friendships or romantic relationships and promote fraudulent crypto schemes.
Fraudsters create fake brokerage websites, often mimicking legitimate ones with fake accounts and profits to lure victims into investing before disappearing with their funds.
Scammers pretend to be financial advisers, using fake websites and social media groups, called “VIP Trading Groups” promising high returns to convince victims to transfer funds, which are ultimately stolen.
Our solicitors have extensive experience helping individuals who have suffered significant financial losses.
We have represented clients across a wide range of fraud, investment and financial recovery matters.
You will never pay any upfront legal fees. Our success is linked directly to yours.
As a regulated law firm, we provide professional legal advice and representation throughout your claim.
We understand modern scams that involve multiple stages of manipulation, including fake investments, cryptocurrency transactions, and sophisticated online tactics.
We provide honest assessments of potential claims and explain the options available before you decide whether to proceed.
“If someone you met online is pressuring you to invest in crypto with promises of high returns, it’s almost certainly a scam. These fraudsters create fake relationships, fake investment platforms, and fake profits—only to disappear with your money. Act fast, cut contact, and seek expert help.”
There are several clear warning signs that you may be a target of a pig butchering scam:
If you realise you’ve been scammed, take these three steps immediately:
Act fast – speak to a specialist & fight back against scammers.
Pig butchering scams typically involve a long period of trust-building before victims are encouraged to make investments. We investigate how the scam developed and assess the available recovery options.
Pig butchering scams frequently result in substantial financial losses built up over time. Our No Win, No Fee agreement allows you to pursue recovery without taking on further financial risk.
What This Means for You
Pig butchering scams often combine romance and investment fraud using fake platforms. If your case involves any of the following, we can help:
The scam originated in China and South East Asia around 10 years ago. It is so-called because of the simile with pig butchering i.e. fattening a pig (building trust and slowly investing) and then slaughtering the pig (i.e. the fraudsters stealing funds and disappearing).
Losing money to a scammer can be distressing, but you can recover funds.
If you have reported the suspect transfer to your bank soon after, they may be able to stop the transfer, particularly if it is to another UK bank.
You can also seek a refund from your bank that made the transfer. The UK banking regulators have set out rules and requirements to be eligible for this. Please see our section above on “How we help you Recover your funds from a pig butchering crypto scam”.
There are various ways to protect yourself. The biggest red flag is when someone you’ve met online asks you to invest in crypto, promising high or guaranteed returns.
Never invest based on the say-so of someone who approached you through social media, dating, or messaging apps. Always seek independent financial advice from an FCA-regulated adviser before investing your money. To verify if a crypto platform is legitimate, see our Fake Crypto Exchange Scams page.
Before sending any money, check if the online relationship is genuine by:
If they avoid meeting or sharing basic details, be extremely cautious.
Tim qualified as a solicitor in 1997 and has more than 25 years of experience advising clients on professional negligence, financial mis-selling and complex civil litigation matters. He oversees the firm’s professional negligence cases and advises on case strategy.
Tim has reviewed this page to help ensure the legal information is accurate, up to date and relevant to individuals considering a potential claim.
We offer a free, confidential consultation to help you understand your legal options. Our specialist solicitors handle professional negligence, pension and investment mis-selling, and fraud recovery claims across England and Wales. From day one, we’ll give you clear, practical advice tailored to your situation.
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You do not need legal representation to make a financial services claim. You can complain yourself at no cost and under FCA rules, the financial services provider must provide a response. If you feel this is unsatisfactory, you can complain to the statutory redress bodies, the FOS and FSCS who can award you compensation. This is a free service.
The information appearing within this website does not constitute legal advice and is provided for general information purposes only. No warranty, whether express or implied, is given in relation to such material, and we do not accept any liability for reliance on it.
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