pig butchering definition

Definition of pig butchering : noun

1. A protracted form of social engineering in which the criminals cold-call prospective victims, and then spend considerable time and effort in securing the victims' trust and developing rapport with them. As that relationship deepens over time, the criminals induce the victims to transfer assets into a bogus financial services account where their "investment" may be safely left to enjoy steady growth. The victims are often encouraged to borrow money to post to the scam accounts. Once the criminals are convinced they've drained the victims' assets, they take the money, close the account, and make their exit. Pig butchering is thought to have originated in the Chinese underworld.