I talked to a coworker today who was really excited about making a lot of money but now needs a few thousand more to get his money out… this isn’t good.
Here’s some background:
He is going through a divorce and met a new girlfriend online. She claims to be a smart crypto investor.
In the last couple of months, he invested $50k, almost all his savings, into a crypto account. He says this account has grown to $200k.
He has no idea how it works but believes she tells him the best times to buy and that she’s always right.
He’s never met her but she’s supposedly coming for Thanksgiving.
Today he wants to withdraw his money, and she told him there’s a $17k fee to transfer the funds from the site.
I’m not sure what to tell him, but I said I’d be worried and wouldn’t invest any more money without reporting it to the authorities since he might be caught up in a scam.
I think the money isn’t even real, and they’re just playing with numbers.
What else can I say to him besides alerting the authorities and telling him to stop investing?
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@madisonwilson
You might not be able to. Some people are harder to convince than others. There are many videos about pig butchering scams, so I’d suggest starting there.
Put in the website your friend is using, and it will show when it was created. These sites are often made just a few months ago. Show him videos about the pig butchering scam too.
Declan said:
You should let him know he’s falling for a pig butchering scam and that they’re going to take everything from him.
Hi /u/great_molassesflood, AutoModerator is here to explain the pig butchering scam.
This scam is called pig butchering because scammers use scripts to gain the victim’s trust before they take all the money. It often starts with what seems like a wrong number text or message. When the victim replies, the scammer tries to build a friendship. These chats can be friendly or romantic but aim to get the victim ready for the planned crypto scam.
The scammer usually claims to be wealthy or know someone who got rich through investing, often in cryptocurrency. The victim gets encouraged to try out a fake investment site, which shows them making money on their initial deposit. The scammer might even let them withdraw a small amount, making it seem real. Then, the victim is pressured to invest a lot more, sometimes their entire savings. Sometimes these scams don’t involve crypto but other money transfer methods like bank wires or gift cards.
Eventually, the scammer finds an excuse for why the account is frozen (like fraud or supposed taxes owed) and may try to extort the victim for even more money. By this time, the victim usually loses all access to their funds, and the money is gone. Many victims lose tens of thousands or even millions. Often, the scammers are victims of human trafficking, forced to do these scams. If you’re caught in one, it’s important not to send more money and to report it to the authorities. Thanks to user Mediocre_Airport_576 for this script.
If you know someone in a pig butchering scam, sit down and watch this video by Jim Browning together to help them understand what’s happening: https://youtu.be/vu-Y1h9rTUs -
Sadly, you can show him this forum, have him search for crypto, and read about his exact scam until the end of time, but he’ll probably still not believe it.
Ivy said:
Sadly, you can show him this forum, have him search for crypto, and read about his exact scam until the end of time, but he’ll probably still not believe it.
Can I report this to the authorities on his behalf and let them know someone is getting scammed out of their life savings?
If he insists, they’ll make a report that will likely go nowhere. You, as a third party, won’t get much help either. The police don’t take reports from someone else for an adult.
Pleasant Green and Jim Browning have great videos about this scam on YouTube. It’s called pig butchering. Sit him down to watch both. If he refuses, just tell him you’ve seen the videos, and it’s a scam. Unless the girlfriend shows up with cash in person, he’ll lose everything. You should also inform your supervisor, especially if he handles company funds. Good luck.
This same pig butchering plus crypto scam story, with just a detail or two changed, has been shared here hundreds of times before. Your coworker has definitely been scammed. None of the money he ‘invested’ will ever come back, and paying made-up fees or taxes won’t change that. Every dollar went into a scammer’s pocket, just like any more money he sends. The scammer won’t return the money or show up for Thanksgiving.