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Pig Butchering Scam Explained

Hey kids! I just learned a new phrase being used to describe the newest scams that are working scarily well. This new scam starts with a "wrong number" text or on a dating site or social media.

Here's the thing - they don't ask you for money. They don't try to pull out personal details to steal account logins.

Say what???

These folks are gaining your trust and then telling you about an "opportunity" to invest in an app that lets you buy your own stocks or crypto. They show their accounts are making money on this app first. They offer to share their investing tips with you.

Then you create an account and fund it yourself. The app then appears to show growth in your account. Then you feel more confident and invest more. And more. And more.

Then when you try to withdraw your money - you can't.

Scary? You bet.

Check out a segment on the John Oliver show "Last Week Tonight" that explains in horrifying detail about how this scam happens And who actually is holding that conversation with you. That part breaks my heart. 💔

If you're interested in further reading about this scam, check out the Reddit thread below:

Stay safe and be vigilant, my friends!!

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