How to avoid a Pig Butchering Scams in Crypto 

Pig Butchering Scam is a deceptive scheme targeting crypto investors. Read on to protect yourself Written by - Prathyush Gupta Designed by- Prince Kumar Photo Credit: Pexels

[{"selector":"#anim-a8cd8f91-a5d8-44d8-9667-e8200be6214b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0a8f1b7b-98dd-4a32-b34f-6db7b67323f4","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5144068f-fd99-4a66-b2eb-2d470f704d83","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13b66ef3-9b8a-451d-b34f-2b4094f93f68","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] What is a Pig Butchering Scam? It's a deceptive scheme where scammers build trust with you online before convincing you to invest in fake cryptocurrency platforms. Photo Credit: Pexels

[{"selector":"#anim-7310a8df-ded1-4360-96f7-c5c890c3c5eb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e5cceef-a281-4c52-a635-e9bfb99ad569","keyframes":{"transform":["translate3d(105.81718%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0bcb552-357b-4e33-9a5a-72ea6eabbd04","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e0c0343b-6d82-47d1-aa6c-bfac5dec33d8","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] How it Works: Act 1 - Making Friends Scammers find you on online platform acting friendly and gaining your trust and emotional connection. Photo Credit: Pexels

[{"selector":"#anim-d762ff42-67ea-43e5-b1da-eafc1fa1625e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cbd7f501-ee82-4e4d-944e-3ecc0f2aeff4","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f8f6532f-0d73-4bdb-9bd6-a3c6ba59d772","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ba9aef4d-29e2-4d14-b2ba-471204f50332","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Act 2 - The Crypto Dream They casually introduce you to "amazing" crypto opportunities with high returns. They may even show you fake profits to get you hooked. Photo Credit: Pexels

[{"selector":"#anim-624587ca-6d9f-4edd-8e3a-c66510b1d379","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fd0278ae-d11a-448b-8adc-14afa8679cdb","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b9f09bc-6446-4c58-b39b-1e5d97458ca9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f5fc22b6-d42a-48a1-a71c-eccbefde9215","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Act 3 - The Fake Platform They pressure you to invest on a fake trading app they control. Be warned, these platforms are designed to steal your money. Photo Credit: Pexels

[{"selector":"#anim-ee119dad-d21a-474a-ad7e-167d7106708f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3725715-327b-4190-92e7-6cf493ce2597","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b0caf9c4-f82d-4b23-949e-32688fc4f0eb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-da45fd3b-59ba-4559-8b60-9c40534e8ba8","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Act 4 - Fattening the Pig The fake app shows fabricated profits, making you believe your money is growing. This tempts you to invest even more. Photo Credit: Pexels

[{"selector":"#anim-be20dff6-a04d-4cac-a919-b2e18e1a466b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc3a663e-9463-4f7d-b1f2-6abb4a74c897","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ed13468c-da5a-4a05-b8f4-1d4abc12e5c2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4b3a42a9-1c26-4962-950d-2c3abe579c3c","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Act 5 - The Slaughter When you try to withdraw your funds, the scammers vanish with your money. The fake platform may freeze your account or impose impossible fees. Photo Credit: Pexels

[{"selector":"#anim-9473eeb8-23a8-4534-b1ee-2ecc10d9e551","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fa04d287-da19-406e-9eee-4bb3ed0ac02e","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f01e1fed-377c-40fe-a9da-5389e4a389e6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6d7171d1-4fc9-4cee-b858-bb379b3c7682","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Can I get my money back? No, Because of the anonymous nature of cryptocurrency, recovering stolen funds is extremely difficult. Photo Credit: Pexels

[{"selector":"#anim-b27acd5b-74c5-446b-8e39-dc1d83a6b7ea","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0893c6ee-57bc-4acf-a4fc-34f49653c128","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d662a726-441e-4a84-a584-51503dd2a7d4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a6d23aa1-5371-402e-b35a-a88c6f944aa9","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Red Flags to Watch Out For Unsolicited advice, guaranteed high returns, pressure to invest, fake platforms. Photo Credit: Pexels

[{"selector":"#anim-0b1f0029-08b7-4936-bb51-80f8b19b5adc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fb444c94-334b-4a16-aead-20f4749b0972","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3f96ab83-827a-4f6a-a429-1a8bab135a27","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-47e4739a-3a26-42ac-82be-9fc38275037d","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] How to Protect Yourself Don't trust strangers, research before investing, use trusted exchanges, don't rush decisions. Photo Credit: Pexels

[{"selector":"#anim-779c748e-eea1-4770-9584-fdda86c340d2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-101e86b7-8ad3-4852-8a9c-1e3beffc897f","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-795fdbc7-68d7-40bb-a1e3-34ce9b3ebcb8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-09ce9462-b6e0-4e0f-80c1-f3fb93e7fc78","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] What If You're Being Targeted? Cut off contact, report them to the platform & authorities. Photo Credit: Pexels

[{"selector":"#anim-79341a34-4325-439e-8799-b5d532a68587 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.499999772451451%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c2a7ef9b-45e7-4ae0-95d6-2aab757e8865","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a292588f-c1e8-4304-acfd-cffff900ee9a","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-49272141-70d5-4ca9-aae7-dde1899e6898","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-72057c3b-cdea-48a9-80dc-2dfe399690bf","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] By educating yourself about Pig Butchering Scams, you can protect yourself and your loved ones. Photo Credit: Pexels

[{"selector":"#anim-f1155098-89bf-4b51-bbdd-59964d7eac08","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5fd8b981-516d-43e2-bda3-44f0d8a4d9df","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec936a70-9100-4681-b2f0-154f56a16e7d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04f85fd8-bc74-4cf8-b9c2-ac411d6264ab","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] This information is for educational purposes only. Always consult with a SEBI registered advisor before investing.

[{"selector":"#anim-8c6b939f-7a2c-433d-9dd4-a493aac408e3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9c50cf3-aa07-4c96-b11a-cd0da1db3658","keyframes":{"transform":["translate3d(106.37119%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-47449680-238b-4444-9ac3-3c0270859378","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-08e840bb-2573-4d8e-9870-4518e4d1ff7d","keyframes":{"transform":["translate3d(-128.99999%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cryptocurrency exchanges in India are not allowing all withdrawals amid market surge. Here’s why Learn More