Scams are nothing new. We’ve all heard the cautionary tale about emails from a “friend” asking for a loan while they wait for their enormous trust fund to kick in.

But the latest online dating scam is much more clever than a shady email. It also has a new angle: cryptocurrency investing. Known as the “Pig Butchering Scam,” it started in China but is now targeting dating sites all over the world. It’s become such a problem that the FBI recently sent out this warning. They’ve received over 1,800 complaints about this new scam in the first seven months of 2021 alone.

This scam can be harder to spot than others, but that doesn’t mean you have to feel unsafe while dating. Keep reading to learn the ins and outs of the Pig Butchering Scam, from what it looks like to how to avoid it.

How the new crypto scam works

Wonder why it’s called the Pig Butchering Scam? It’s because these scammers play the long game. First, they gain your trust, then they “lead you to the butcher.” Here’s how it goes down.

After matching on a dating site, they’ll spend one to three months making you comfortable. They’re trained on how to act and have scripts for countless scenarios. So, everything feels real.

Next, they’ll suggest they can help you make a lot of money in cryptocurrency investment. Keep in mind, they won’t ask you directly for any money or your personal information. They might even encourage you to buy crypto from a legitimate exchange.

From there, you’ll be directed to a fake third-party website or app to start investing. The phony sites are top-notch, complete with “customer service.”

You’ll start to see a “profit” and they’ll even let you “withdraw” a small amount of money. This is a trick to further gain your trust. Once you’re feeling confident, the scammer will convince you to invest larger amounts. They’ll use phrases like “act fast” or shame you into feeling like you’re not giving enough.

But when you try to withdraw money again, the scammer or fake customer service representative won’t allow it. You’re told that fees or taxes are owed, or the minimum account balance hasn’t been met. The excuses continue until you realize it’s all a scam. At this point, the scammer vanishes – along with your invested money.

So far, large losses have been the norm. The Global Anti-Scam Organization, a volunteer group led by victims of this scam, found that the average loss was $98,000 and about 70 percent of victims were women, most with a bachelor’s degree.

Want an insider’s look into how it works? Check out this video from a fellow online dater who fell victim to the scam.

An online dater goes into detail about how they fell for the popular “Pig Butchering Scam”

Tips for spotting a scammer

So, what does an actor from the Pig Butchering Scam tend to look like? This list won’t match every person involved in the scheme, but here are some general guidelines:

✔️ Realistic profile names with an age range of 28-35 years old

✔️ Fluent in Chinese while also speaking in broken English (They might claim to use a translator)

✔️ Works as a business owner or a field such as finance, medical supplies, or sales

✔️ Studied finance or accounting and invests in crypto, forex, or gold as a hobby

✔️ Shares luxury-type pictures, including cars, jewelry, and handbags

So, this scam is less obvious than ones that ask you for your personal information or money upfront. But there are still some other warning signs that can help you spot a scammer.

They’re everything you’re looking for. The fake profiles show very good-looking men or women, who are also looking for a serious relationship. The conversation will always be flowing. They’ll send good morning and good night texts, selfies, pictures at local landmarks, even shots of their “homecooked dinners.” After a few weeks, they might start using pet names for you or even profess their love. If they get too lovey too quick, throw up a red flag.

Meeting up and video chats aren’t an option. They might use excuses about being too busy to meet in person, usually because of work. Or they’ll say they’re too shy to video chat, and might even pull on your heartstrings by citing a past bad relationship. But if you’ve been talking to someone for weeks and have yet to lay eyes on them, you should be cautious.

They talk a lot about money. Actors in this scam will present themselves as super-wealthy and will talk about spending thousands of dollars like it’s nothing. Reminder: Even if they don’t ask for your private information, any type of talk about your finances with someone you haven’t met is always a red flag.

You’re told about deals that are too good to be true. They’ll convince you that you can have what they have – all you have to do is try out their investment plan. “Trust me,” they’ll say, “My uncle is an expert in crypto and taught me everything they know!” Get rich fast schemes are almost always just that – schemes.

Got scammed? What to do next

Remember, scammers are opportunists and online daters a prime target for their shady schemes. You download a dating app with dreams of opening up and finding your person – and scammers look to take advantage of that vulnerability.

So if you find yourself a victim of a scam, try not to judge yourself. You did something brave by putting yourself out there. The blame is entirely on the scammer.

Now, check out this article on our Help Desk for steps you can take if you need direction after being scammed.

How CMB finds and blocks scammers

Dating should never feel scary – at least not for reasons like this. That’s why we’re working overtime to keep our community safe from scammers.

We use AI programs dedicated to sorting out scammers. Plus, we have an Approval Team that reviews new profiles and checks photos and schools for apparent fakes. If someone happens to get through this system and creates a profile, then we rely on savvy daters like you to be another line of defense.

If you think you’ve come across or matched with a scammer, please report them immediately. By reporting a scammer, you’re preventing them from taking advantage of someone else in the future. And don’t worry – reporting is totally anonymous.

Once reported, we investigate, then ban the profile if appropriate. We’ll then alert our Approval Team not to approve anyone with that user’s information or photos moving forward.

We know this is a lot of information to take in. But we want to give you all of the tools you need to protect yourself. That way you can actually enjoy online dating and find what you’re looking for: a real, lasting relationship (not an empty bank account).

A note from Jenny, head of customer experience

Finding a good date used to be at the top of my “things I dread” list, right after public speaking and queuing at the bank. So, when apps like Coffee Meets Bagel came onto the scene, I was beyond relieved. I didn’t have to frequent loud bars, or try to recreate that rom-com scene where the woman bumps into a hunk at a supermarket and the 99-cent-oranges display goes flying.

But while coming across a good date got easier, so did coming across a less savory type: scammers.

Now as the head of customer experience at Coffee Meets Bagel, I’ve heard the happily-ever-after stories and the I-fell-for-a-scam stories. And while CMB does have technology in place to prevent scammers from joining in the first place, we can’t catch all of them by ourselves (yet).

So before you can star in your own dating app success story, check out my tips on how to stay safe.

Quick Online Dating Safety Tips

Buckle up! Safety, first. Before we hop into the five signs your match might be a scammer, check out these quick tips.

Never make financial moves with someone you met online. That means not sending money, gift cards, or account info – as well as believing investment advice or “get rich quick” claims.
Keep your exact workplace and address a secret until you’ve met in person and have built trust over time. (Some experts advise also keeping your last name private until after your first date.)
Tell your friends or family about when & where you’re meeting a match for the first time. Provide your own transportation, and always meet in a safe, public place, such as a coffee shop.

And, most importantly, if you ever feel uncomfortable or harassed when chatting with a match, stop talking to them and report them on the app. Then, block them from other messaging services if applicable. If you’re already on a date, leave immediately. Dating should never feel scary.

Signs Your Match Might Be a Scammer

Now that we’ve taken care of the crucial safety tips, you’re all set! Well, almost. I want you to spend time on matches who matter on CMB, not scammers. Here’s how to spot if your match is a scammer before you get involved.

They Go From 0-100

Oftentimes, scammers use artful tactics to try to sweep you off your feet. They might shower you with compliments or use flowery, romantic language right off the bat. They might give you a wholesome Disney-eqsue monologue about how they’re “just looking for love,” and “U the one 4 me, babe.” But I know you’re smarter than that, so you’ll see your match moving too fast as a red flag.

Another red flag: They’ll want to take things off the app and start texting, calling, or using other messaging apps (such as Kik, WhatsApp, or WeChat) ASAP. To cut to the chase, they may even include this contact info in their bio.

One thing to note: Scammers nowadays are extra sneaky. So while they might sweep you off of your feet quickly to gain your trust, they could wait a bit before actually trying to pull off their scam. This is especially popular in cryptocurrency dating scams, so be wary of the long game.

Their Stories Pull on Your Heartstrings

Gone are the days when all scammers were Nigerian princes. Nowadays, they’re architects, oil-rig engineers, geologists, make-up artists, nurses, and more. But one of the most common careers scammers claim to have is that of a soldier, or any career related to the military. And oftentimes they are oh-so-conveniently stationed far overseas where they can’t meet you in person.

But their real job title? A sly scammer. They may even claim to be religious (a tactic used for inspiring trust), or tell you a sob story: they’re a recent widow and their partner has passed in a tragic accident. Or, perhaps they have a sick child or parent they care for. While these unfortunate circumstances may be true for a small portion of singles involved in online dating, one of the telltale signs you’ve matched with a scammer doesn’t come until later — when they ask for your money.

They’re Just Too Good to Be True

If your match has profile photos that belong in a magazine catalogue, you’ve either met a model, or a scammer. And while both exist in real life (models aren’t Bigfoot, after all), it would be very unlikely for a real person not to have any casual, non-professional photos in their profile pic lineup.

Take note of other profile/photo inconsistencies. For example, if their profile says they’re 32, but they look only 22 in their picture, that’s a red flag. Likewise, if their profile claims they have a high level of education, but their grammar is disjointed, something might be up.

On top of conflicting photos, the person in question could be everything you’re looking for. You share all of the same values, never disagree, the conversation is always flowing – they’re basically a match made in heaven. After a few weeks, they might start using pet names for you or even profess their love. Remember what we talked about: If they get too lovey too quick, it’s a red flag.

Meeting in Person Isn’t an Option

We know that the most meaningful connections happen face-to-face, so on Coffee Meets Bagel, we encourage members to meet in person. So if your match isn’t keen on meeting in real life or over video chat, you should raise an eyebrow.

One of the most common excuses scammers use to avoid meeting in person is claiming that they work abroad. Some scammers will dodge video chats and phone calls by claiming to be “too shy” or because they’re dealing with trust issues from past relationships. But if you’ve been talking to someone for days (or weeks) and haven’t taken these steps, that should set off alarm bells.

In situations like this, fact-checking is your friend. Try running a Google reverse image search to check if they have multiple profiles under different names or with different info. Some scammers may also steal photos from influencers, low-profile celebrities, or stock sources.

They Ask for Money, Gift Cards, or Account Info

Lastly, and most importantly, if your match asks you for money, gift cards, or your account information, stop all communication immediately. It is extremely likely this person is a scammer.

But, it isn’t always clear right away. Many scammers will play the long-game by trying to build trust with you over time. Then, suddenly, there’s an “emergency,” and they need money quickly. Here’s a few types of fake emergencies they may claim to have:

They were robbed and need money
They have to book a last-minute business trip
They need a loan
They or their family member has a medical emergency

Sometimes, scammers may also ask for gift cards, such as an iTunes gift card. But, you should never trust a match who claims they need anything from you but your time and words, even if they promise to pay you back.

Another way a scammer might try to steal from you is less direct: by gaining access to your accounts. While some may directly ask you for your account info, routing numbers, social security number, or driver’s license info, others may be more sneaky.

If your match asks you strangely specific personal questions about old addresses, your pets’ names, or schools you’ve attended, be cautious. They could be trying to gain access to your accounts by resetting your passwords via security question answers.

A final reminder: Even if someone doesn’t directly ask you for money or personal information, matches who spend a lot of time talking up investments, cryptocurrency, or finances should be viewed as suspicious.

A common trick with these investment scammers will present themselves as super-wealthy. They’ll talk about deals that are too good to be true – all you have to do is try out their plan. So while you might think you’re not directly sending anyone money, you could still get scammed by third-party sites.

How to Report a Match on CMB

If you think you’ve come across or matched with a scammer, or if your match has violated our terms of service, please report them. By reporting a scammer, you’re preventing them from scamming other lovely bagels on our app in the future.

To report a bagel in Suggested or Discover, simply tap on the flag icon in their profile.

Ready to meet someone special? Download Coffee Meets Bagel on iOS or Android.

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How to spot the new crypto scam targeting online daters