Unmasking the “Pig Butchering” Financial Scam Through Blockchain Forensics: A Global Financial Threat

• In Event: Criminal Justice Responses to Crimes in the Age of AI & Robotics

Abstract

In recent years, the “Pig Butchering” scam—originally traced to Southeast Asia—has rapidly spread worldwide, predominantly driven by cryptocurrency fraudsters exploiting dating apps and social media platforms. These perpetrators craft fictitious personas, luring potential victims by feigning genuine companionship or romantic interest. This research leverages Open-Source Intelligence (OSINT) and blockchain forensics to examine the scam’s emergence and explores its connection to digital currencies via blockchain analysis. Notable case studies emphasize the scam’s multifaceted nature and extensive global impact. Data sourced from chainabuse.com was examined to illuminate evolving trends in these financial schemes, with specific attention to cryptocurrency usage. Focusing on mapping digital payments on blockchains, the study identifies fundamental features of Pig Butchering scams by investigating over 200 documented incidents and tracing transactions to perpetrator-linked wallets. Key findings reveal prominent fund-transfer practices, money-laundering methods, and victim-targeting tactics. By applying blockchain forensic techniques and utilizing open-source intelligence repositories, researchers created a detailed database to systematically track illegal transactions and map interconnected wallet networks. The results advance academic discourse on digital fraud while offering practical strategies for criminal investigations. Concluding remarks propose criminological and technical safeguards to counter this escalating global financial threat.

Authors

• Kyung-Shick Choi, Boston University

• Sujung Cho, Southern Illinois University Carbondale

• Peyton Henry, Boston University

• Erin Stephens, Boston University