Wrong number, right friend, fake fortune

A misdirected text grew into a months-long friendship, then into a crypto account that showed $210,000 that never existed.

What happened

It started with a text meant for someone else: “Hi Kevin, are we still on for golf Saturday?” David, 63, a widower, replied kindly that she had the wrong number. The woman apologised, and they started chatting.

Over four months they talked every day. She sent photos of her flower shop and her travels. She mentioned that her uncle taught her to trade crypto, and showed David her profits. Eventually she walked him through opening an account on a trading app.

His first $1,000 grew to $1,600 in a week, and he was able to withdraw $500. Over the next two months he moved in $86,000, including a loan against his house. When his balance showed $210,000 and he tried to withdraw, the app demanded a 20% “tax” first.

“The money hurts. Losing her hurt more, and she was never real.”

The scam

This is known as “pig butchering”, a long-game investment scam. The wrong-number text is deliberate. The friendship is built by teams of scammers working from scripts, sometimes people who are themselves trafficked into the work.

The trading app is fake. The balance is just a number on a screen. The early withdrawal is allowed on purpose, to build trust. The “tax” or “unlock fee” at the end is the last squeeze before they disappear.

What David did

David’s daughter noticed he’d taken out a loan and asked why. When she searched the app’s name, she found dozens of reports. He stopped paying, reported it to the FBI’s Internet Crime Complaint Center, and the woman’s number went dead.

He has recovered nothing so far. He now volunteers with a support group for people who lost money to the same scam.

Red flags

• A friendly “wrong number” text that turns into daily conversation.
• A new online friend who talks about their investing success.
• An app or site you’ve never heard of, recommended by someone you’ve never met.
• Having to pay a fee or tax before you can withdraw.

How to protect yourself

• Anyone you’ve only met online who brings up investing is almost certainly a scammer.
• Only invest through firms you can look up on FINRA BrokerCheck or the SEC’s site.
• If you’re asked to pay to withdraw your own money, the money isn’t there. Stop paying.
• Watch out for “recovery” services that contact you afterwards. They are often the same scammers.

Every story is a composite of commonly reported cases. Names, places, amounts and links are changed.