Pig butchering scams are a new twist on an old threat. They get their name from scams where a citizen would pay high dollar for a bag supposed to contain a prize piglet. When the victim got home, they would find a bag full of disappointment instead of pork.

Today’s scams start with a simple “hello” via text, social media, or a dating app. The author often gets past awkward introductions by claiming they meant to contact someone else. They then build a relationship with the victim, earning goodwill. Once the foundation is laid, they begin to mention their own good fortune—due to their cryptocurrency investments. They offer similar opportunities to their victims. The investments are funneled through their own fraudulent apps and websites that willingly take the investment, but return significant funds only with bogus hefty fees.