A new FBI warning describes a troubling twist in cryptocurrency investment fraud: after luring victims online and convincing them to “invest” in fake crypto platforms, scammers are now sending physical couriers to pick up cash directly from victims’ homes or a nearby public location. The courier authenticates themselves using a password or a specific dollar bill serial number — details shared in advance by the scammer — which makes the encounter feel official and trustworthy.
The scheme, sometimes called “pig butchering,” starts on social media, dating apps, or messaging platforms where criminals build a fake relationship over days or weeks. They then steer the victim toward a fraudulent investment site that shows growing fake profits. When the victim tries to withdraw, the site demands fees or “taxes,” and the scammer dispatches a courier to collect cash payments. U.S. victims lost $8.6 billion to investment scams last year alone — part of nearly $21 billion lost to cyber-enabled crime overall. The FBI urges anyone contacted by a stranger who later steers a conversation toward crypto investing to end contact immediately, never share their home address, and report the incident at IC3.gov.