An ugly name for scams that have been going on for a very long time. Dating sites are chock full of personal information, and of course, people like to brag about their success. This just happens to be an efficient way to target them and separate them from some of their money. And these are more and more often being run by organized crime (maybe not the “mafia”, but definitely in gangs and on a large scale).
“The pig-butchering, or “sha zhu pan,” scam is a highly sophisticated form of romance and cryptocurrency investment scam. Scammers — mainly working for Chinese organized crime gangs — pose as attractive professionals or entrepreneurs looking for true love. They use dating apps, including Tinder, Grindr and Hinge, as well as social media platforms like Facebook and Instagram to match with their potential victims. The scammers target single women and men, LGBTQ+ and those over 50 years old, as well as new immigrants as their potential victims.”