The multibillion-dollar scam known as “pig-butchering,” once treated as a consumer-fraud issue, has crossed a new threshold and is prompting concerns over national security. 

In a podcast, Chainalysis head of national security intelligence, Andrew Fierman, and former prosecutor Erin West, founder of cross-sector anti-scam nonprofit Operation Shamrock,

Red flags to watch out for 

Like many scams, there are ways to spot a pig-butchering scam. The scam often involves manipulating feelings, which means someone expressing strong feelings for you too quickly through online channels, especially without meeting, may be a scam. 

It becomes more suspicious if whoever you’re in touch with refuses to share personal information or professional credentials. 

One of the main signs it’s a pig-butchering scam is when the person starts asking for money, even if they claim it’s for an emergency.

This also takes the form of risk-free investments and easy money, often showing fake screenshots of massive profits to convince their victims to invest. 

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