FBI’s Message to Iowans: In a ‘Pig Butchering’ Scam, You’re the Pig

It's not a pretty thought. I grew up on a pig farm so the idea of "fattening" something up to take it to market is an idea I am very familiar with. However, in this latest criminal scam WE are the pigs. Let me explain.

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Picture this: you meet someone online. It could be through a dating app, a social media message, or even a professional networking site. They seem nice, probably even charming or charismatic. You chat, bond over shared interests, and before long, you trust them. Then, they mention an amazing investment opportunity, something that's making them a lot of money. It sounds foolproof. They may even provide you "proof" of their profits. So, you put in a little money. And then a little more. And before you know it, you’re in deep — too deep. By the time you realize it’s all a scam, your money is all gone. Just like that.

This long-con is what the FBI is warning Iowans about. It's a cruel and sophisticated scam called "pig butchering." In this scheme, criminals "fatten up" their victims with trust and false promises of wealth before slaughtering them financially. And I mean SLAUGHTERING! These scammers are pros. They spend weeks, months, even years grooming their targets, slowly luring them into a web of trust-filled deception.

The Numbers Don’t Lie—And They’re Alarming

According to the FBI’s Internet Crime Complaint Center, Americans lost a staggering $3.9 billion to cryptocurrency investment fraud in 2023 alone. Iowa is not immune. In fact, on the other side of my family, an elderly and lonely grandmother was recently taken for essentially every penny she had in this exact type of scam. It's true what they say, romance never dies. And these scammers are the very worst kind of people, even preying on the loneliness and isolation of old age. Every month, thousands of victims across the country file reports, but experts believe the real number is much higher. And here's why, many victims are too embarrassed to come forward.

These scams don’t just drain bank accounts; they destroy lives. Some victims have lost their life savings, homes, and retirement funds. Others have gone into debt, convinced that one more deposit will unlock this "guaranteed" fortune. Additionally, the emotional toll is devastating. So extreme that some victims have needed suicide intervention services after realizing what’s happened, and that everything was a lie.

How the Scammers Work

They are methodical. First, they gain your trust. Then, they dangle an investment opportunity that seems almost too good to be true, but just real enough to be tempting. They create fake trading platforms or manipulate real ones to show inflated profits. And just when you think you’ve hit the jackpot, they come back and ask for more. It could be you’re told you need to "pay a fee to withdraw your funds." Maybe they say you need to "unlock your earnings with an additional deposit." The goal is always the same: keep you sending money until you have nothing left. And once they’ve taken all they can; they disappear, without a trace.

The FBI’s Mission: Stop the Slaughter

Thankfully, the FBI isn’t sitting back and letting this happen. Through Operation Level Up, agents are identifying victims before they lose everything. Since launching the initiative, they’ve saved thousands of Americans over $285 million by warning them just in time. In some cases, victims were seconds away from making massive transfers when they got the life-saving call from the FBI.

But here’s the problem: even if you've heard the warnings, how would you know it's a scam? Some victims are so convinced these scammers are "good people " that they ignore the warnings; even when they come from law enforcement or family members. That’s why awareness is key, and people like me write these articles.

How to Avoid Becoming the Next Victim

The FBI and the Iowa Attorney General are urging Iowans to stay vigilant and think before they invest. Here’s how you can protect yourself:

• Be skeptical of online relationships that escalate quickly. Scammers invest time into grooming you. If someone you barely know is pitching an investment, it’s most likely a scam.
• Don’t trust the "too good to be true" investment opportunity. If someone promises guaranteed high returns, it’s a scam. Legitimate investments always carry risk, with little to know guarantee.
• Never send money to someone you haven’t met in person. If they ask for cryptocurrency, it's a huge red flag. Once it’s sent, it’s nearly impossible to recover, and even harder to trace.
• Verify before you invest. Research investment platforms, double-check domain names, and consult financial professionals before committing funds.
• Talk to family and friends. Given my families recent run in with this type of scam, I cannot stress this enough! If you’re unsure about an investment, get a second opinion. Scammers will do everything to try and isolate their victims — don’t let them.

Scammers are out there right now, looking for their next target. They don’t care about you. They don’t care about your savings, your retirement, or your future. All they want is to fatten you up with false hope before they take everything you have. Tell me you’re smarter than that. You’re not a pig in their twisted slaughterhouse. If you take a moment to pause — to Take a Beat, as the FBI advises — you can avoid becoming the next victim.

However, if you or someone you know has been targeted by a scam, report it immediately to the FBI’s Internet Crime Complaint Center at ic3.gov. And most importantly—stay alert and informed. Doing so could really "save your bacon."