Pig-Butchering Fake Trading Platform
A polished but fake trading platform shows growing profits to lure bigger deposits, then blocks withdrawals behind endless 'fees' and 'taxes.'
Think a message like this reached you? You can check it right now.
What this scam is
After building trust (often via romance or a 'wrong number' chat), the scammer guides you onto a professional-looking trading app or website that is entirely fake. Your deposits show impressive, rising profits on a dashboard you cannot really cash out. You are urged to deposit more; when you try to withdraw, you must pay 'taxes,' 'fees,' or a 'minimum balance,' and eventually you are locked out. The whole platform is a stage set. Losses are typically large and unrecoverable.
What it usually looks like
- A slick trading app or site recommended by a new contact.
- A dashboard showing steady, impressive gains.
- Encouragement to deposit more to 'maximize' returns.
- Withdrawal blocked until you pay taxes or fees.
Common warning signs
- An investment platform you were personally steered to.
- Profits that live only on the platform's screen.
- Fees or 'taxes' required to withdraw.
- Pressure to deposit more and more.
Example wording scammers use
“Your portfolio is up 240% — deposit more to reach the VIP tier and higher returns.”
“To withdraw your $120,000, first pay the 15% capital-gains tax to the platform.”
These are illustrative examples written by ScamSplain, not real messages.
What the scammers want
- Escalating crypto deposits.
- 'Tax' and 'fee' payments to withdraw.
- To keep you investing until the account is drained.
What to do
- Do not invest via platforms recommended by online-only contacts.
- Verify any broker/exchange with regulators before depositing.
- Real withdrawals never require paying a 'tax' to the platform.
- Stop and consult someone independent before adding funds.
What to do if you already responded
- Stop depositing; paying more 'fees' will not free your money.
- Preserve all records and report to ic3.gov and reportfraud.ftc.gov.
- Ignore 'recovery' offers — they re-target victims (see recovery-scam).