FBI Warns of Record Losses From "Pig Butchering" Crypto Scams
The bureau's 2025 fraud report puts US losses from relationship-investment scams at $4.1 billion, the highest figure on record.
Americans lost a record $4.1 billion to so-called pig butchering crypto scams in 2025, according to the FBI's annual fraud report released Friday, eclipsing prior estimates and underscoring the persistence of the scheme despite increased public awareness.\n\nThe scam typically begins with an unsolicited text message or social media contact, escalates into a weeks-long relationship, and culminates in the victim being directed to deposit funds on a fraudulent trading platform. The platforms display fabricated gains that vanish when the victim attempts to withdraw.\n\nThe bureau attributed much of the activity to organized crime networks operating from compounds in Southeast Asia, where trafficked workers are often forced to run the operations under threat of violence.
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