ScamCapital Report a scam
← All common scams
Crypto Circulating now CASE-2026-0018

Pig-butchering contact builds trust before exchange deposit

A social contact moves the target from friendly chat to a private crypto exchange showing fabricated gains.

First reported
May 18, 2026
Last updated
May 27, 2026
Source
Public source ↗

How this scam works

The contact started through social media or a mistaken-message conversation. It did not begin with an immediate ask. The scammer built familiarity, discussed work and lifestyle, and then introduced crypto trading as something they personally used. The target was guided to a private exchange or app.

The first deposit may appear to grow. A small withdrawal may even work, which creates trust. The next request is larger: add funds to reach a premium tier, avoid missing a trade, or unlock a bonus. When the target tries to withdraw, the platform demands taxes, fees, or more deposits.

The private exchange is the trap. Real trading platforms do not need a social contact to onboard customers one by one, and real profits do not require deposits to release. Do not send crypto to platforms introduced by strangers, romantic contacts, or social-media investment accounts.

If this happened to you

First, take a breath. Being targeted is not your fault — these scammers do this all day, every day, and they are very good at it. Here's what to do next:

  1. Stop contact and don't send any more money or information.
  2. If money or an account is involved, call your bank or card company right away.
  3. Report it — it helps protect others: tell us here and file with the FTC ↗.
  4. Tell someone you trust. Talking about it openly takes away the scammer's biggest weapon: shame.

If you're feeling embarrassed or shaken, that's a completely normal reaction — and it passes. You're not alone, and help is free:

  • AARP Fraud Watch Helpline: 877-908-3360 — free to talk it through, even if you're not a member.
  • Recover your identity: IdentityTheft.gov ↗ — a free, step-by-step plan from the FTC.

We compile entries from the public source above. We don't publish private screenshots or message threads. If you report a new instance, please keep the original message, sender address, phone number, links, and any payment request.

Know someone who might fall for this?

Take two seconds to send it to them — forwarding a scam to the people you love is the easiest way to stop one before it starts.

Similar scams to know

See all Crypto →