The FBI has issued a public service announcement warning that criminals are using couriers to collect cash from victims of cryptocurrency investment scams, commonly known as pig butchering or romance baiting. These scams typically begin with fraudsters contacting targets via social media, dating sites, or messaging apps, building trust, and then luring them into fake investment schemes. Instead of investing, scammers steal the money. The FBI notes that as legitimate financial institutions block suspicious transfers, scammers now push victims toward in-person cash pickups, sometimes claiming the victim's account has been flagged. Couriers use a pre-agreed password or dollar bill serial number to identify themselves. After pickup, victims see a simulated increase in their virtual wallet balance but cannot withdraw funds; scammers demand more cash for fake taxes or penalties. The FBI advises researching crypto platforms before investing, not sharing addresses or delivering cash to strangers, stopping contact with unsolicited communicators, and being wary of love bombing. Victims should file complaints with the FBI, including all details. The 2025 Internet Crime Report notes U.S. victims lost nearly $21 billion to cyber-enabled crimes in 2024, with investment scams accounting for 49% of incidents and $8.6 billion in losses.

Key facts

• FBI warns scammers use couriers to collect cash from pig butchering victims.
• Couriers authenticate with a pre-agreed password or dollar bill serial number.
• Scammers simulate wallet balance increases but refuse withdrawals, demanding more cash.
• Investment scams accounted for 49% of incidents and $8.6 billion in losses in 2024.
• FBI advises verifying crypto platforms and avoiding cash delivery to strangers.