Fake crypto investment app scam
Often called "pig butchering", this scam starts with a friendly stranger or dating match who slowly shows you their trading wins and invites you onto a special app. The app shows growing profits, but you can never take the money out.
How this scam works
The app is fake and the balance is made up. Small early withdrawals may work to build trust. When you invest more, you are told to pay taxes or fees to withdraw, and the money is gone.
Common versions of the message
- A friend or match with a successful "uncle" or mentor
- A trading app you have never heard of
- Fees or taxes before you can withdraw
What the message looks like
Text from Lina
My uncle is an analyst and I made $38,000 this month on this trading platform. Download the CoinVaultPro app and start with $2,000, guaranteed returns. If you want to withdraw later you just pay the 20% tax first.
Fictional example based on common, publicly reported scam patterns.
The red flags
- 1
Fake profits: “made $38,000 this month”
Screenshots of big wins are part of the script
Big profit screenshots are part of the script, not proof.
- 2
Their app: “Download the CoinVaultPro app”
The app is fake and shows made-up balances
Only use well-known exchanges you find yourself. Unknown apps are often built for the scam.
- 3
Guaranteed money: “guaranteed returns”
No real investment is guaranteed
No real investment is guaranteed.
- 4
Pay to withdraw: “pay the 20% tax first”
The money is already gone. The fees never end
Paying a fee or tax to get your own money out is the final stage of the scam.
What to do
- Do not send money or download the app.
- Stop talking to the person, even if you have chatted for weeks.
- Report it to the FBI at ic3.gov.
If you already replied, clicked, or paid
- Do not pay any withdrawal fee or tax. It will not release the money.
- Report it at ic3.gov and tell your bank or exchange right away.
- Watch for "recovery" companies that contact you afterward. They are a second scam.
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