Pig butchering
When describing a scam, pig butchering involves cold-contacting a random person via an SMS (short message service) text in hopes of getting a response. For example, the scammer may send "Hi John" and hope you respond with "Wrong number." After establishing a connection, the attacker attempts to befriend you and later mentions they are making money with cryptocurrency.
Once the attacker builds enough rapport with the victim, they may suggest installing a malicious app or that they visit a questionable website. If the victim complies, the attacker may access their smartphone, allowing them to view personal details and change settings.
Most of those who engage in these scams are only interested in money. Therefore, the app or website may appear legitimate by rewarding users with small amounts of real money to get them to invest more. Once the attacker believes they got the victim to invest as much as possible, they close the account, keep the money, and may even remotely delete the app or other smartphone data.
Why is it called pig butchering?
Farmers use this term to describe fattening up pigs months before they're butchered for their meat. Like farmers, the scammers try to make you as valuable as possible before stealing everything.
How to avoid pig butchering
If you get a vague text from an unknown number, we recommend blocking the number and ignoring the text. If you cannot ignore the text because it may be business, verify who you're talking to and be wary of social engineering tactics that may attempt to trick you.
Computer crime, Crypto terms, Security terms, Social engineering