Crypto Romance Scams and Pig Butchering
Scharfman, J. (2024) — The Cryptocurrency and Digital Asset Fraud Casebook, Volume II
AI-Generated Synopsis
This chapter provides a neutral overview of crypto romance scams and pig butchering, placing them within a broader history of online fraud. The opening sections trace the historical thread of romance- and advance-fee schemes, referencing well-known precursors such as the Spanish Prison scam and the Nigerian Prince email scam to illustrate how fraudulent narratives have adapted as communication technologies evolved. The framing notes how the shift to cryptocurrency, social media, and online dating platforms has influenced the modes of deception, trust-building, and perceived legitimacy in these schemes. The discussion then turns to pig butchering as a contemporary variant that blends social manipulation with crypto fraud. The synopsis characterizes the phenomenon in general terms, focusing on patterns such as relationship-focused engagement, investment pitches, and the movement of cryptocurrency as funds are requested or coerced. It emphasizes the victims’ experiences and the financial and emotional impact while describing how persuasive storytelling and staged investment opportunities