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ARTICLE · 18 JUNE 2025

Technical Note Of The OAFS On Pig Butchering Scams – Part 1/2

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Pig butchering is a slang term for a sophisticated cryptocurrency investment scam in which criminals patiently "fatten up" their victims with trust before stealing their money.

MaltaFinance and Banking
Delilah Vella
Delilah Vella

Scams

* This article is Part one of a two-part series dealing with Pig Butchering and APP scams.

Pig butchering is a slang term for a sophisticated cryptocurrency investment scam in which criminals patiently "fatten up" their victims with trust before stealing their money. Scammers create fake online personas – often posing as friendly acquaintances or potential romantic partners – and spend weeks or months building a relationship with the target.

The term pig butchering comes from the idea that the scammers are metaphorically fattening up a pig (the victim) over time with promises and affection before eventually "slaughtering" the pig for profit.

In a typical pig butchering scam, the fraudsters first establish an emotional connection and gain the victim's confidence through frequent chats and social interaction. Once trust is secured, they introduce an "exclusive" investment opportunity – usually on a phony cryptocurrency trading platform that they

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