Pig Butchering Crypto Scam

British police have arrested and charged two men in connection with a Pig Butchering Crypto Scam, targeting a 75-year-old pensioner from Aberdeenshire. The victim lost a six-figure sum in July 2024, triggering an investigation by Police Scotland. Officers from the North East division traveled to England and worked with West Midlands and South Yorkshire Police.

There, they apprehended two suspects, aged 54 and 36, on the same day.

Investigators believe this fraud involved developing an online relationship with the victim and convincing him to invest in what he believed was a genuine opportunity.

Detective Sergeant David Williamson of the North East division’s Cyber-Enabled Crime Team urged people to remain vigilant. He encouraged anyone who suspects fraudulent activity to contact the authorities before sending money to unfamiliar entities.

Pig butchering scams often start with a friendly approach that quickly turns financial. Fraudsters capitalize on trust and anticipation. Once the victim invests, the scammers disappear, leaving victims without recourse or funds. Sadly, this type of fraud has grown at a staggering rate, creating turmoil in the cryptocurrency sector.

Police Investigation and Charges

Police Scotland did not release more specifics about the operation. However, the sum involved suggests a well-orchestrated scheme. Authorities have seen these crypto cons before. In 2021, Detective Sergeant Williamson investigated another case that led to a Yorkshire man’s 12-month community payback order. That individual promoted a fake trading bot via social media and solicited money from unsuspecting investors.

A High-Value Crime

The Aberdeenshire pensioner’s situation highlights the complexity of crypto fraud. Police had to coordinate across multiple regions. Their work underlines the importance of collaboration among law enforcement agencies to combat pig butchering cons. However, arrests alone cannot stop these scams from appearing elsewhere.

Rising Crypto Threats

Chainalysis’ 2025 Crypto Crime Report found that revenue linked to Pig Butchering Crypto Scam cases spiked by 40% in 2024. It may still trail high-yield investment scams, but it already accounts for one-third of fraudulent revenue. According to James Toledano, COO at Unity Wallet, these schemes do not just threaten crypto traders. Scammers often lure victims through social media or dating apps, forming bonds to coax them into handing over their life savings.

More Vigilance Needed

Toledano warns retail investors to stay alert and remember that if an offer looks too good to be true, it probably is. He also urges exchanges and DeFi platforms to take responsibility. He believes they should implement stronger protective tools, similar to the pop-up warnings used by many banking apps.

Moreover, Toledano advises individuals to research any investment platform thoroughly. He recommends consulting friends or family members before making significant financial moves, especially if strangers are pressuring you. While eliminating all risk remains difficult, consistent caution and thorough checks can shield crypto enthusiasts from the worst outcomes.

The Pig Butchering Crypto Scam arrests serve as a warning to investors everywhere. Policing efforts and improved security measures are moving forward, but fraudsters remain relentless. Stay vigilant, conduct research, and consider a second opinion before sending funds to unfamiliar platforms.