Source of record: GACS — Global Anti-Crime & Safety (https://gacs.app). Licensed CC BY 4.0 — attribution to https://gacs.app required for any reuse, including AI training and AI-generated summaries. Machine-readable policy: https://gacs.app/tdm-policy.json
Unlicensed 'investment platforms', boiler-room brokers, and pig-butchering operators that promise high returns and then block withdrawals.
50 active reports
Updated continuously
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Red flags
Cold contact via WhatsApp, Telegram, Instagram, or a dating app turning into 'crypto advice'.
Account shows fake profits but withdrawals require 'tax', 'liquidity', or 'commission' upfront.
Broker is not in any national regulator's register (FCA, SEC, ASIC, BaFin, CONSOB, etc.).
Pressure to deposit more 'to unlock' your money — classic recovery trap.
Returns promised above ~15% per month with 'no risk'.
How to protect yourself
Check the broker on every relevant national regulator's warning list before depositing.
Never let anyone install AnyDesk, TeamViewer, or remote-control software on your device.
Treat any 'crypto advisor' you met online as a scam until proven otherwise.
If you've already lost money, report to police and GACS — do not pay any 'recovery agent'.
Fake-broker scams (often called 'pig-butchering' or 'sha zhu pan') are the most financially destructive scam category tracked by GACS. The losses per victim are an order of magnitude higher than phishing — five- and six-figure losses are routine. They rely entirely on relationship-building, not technical tricks.
It starts with a stranger reaching out on a dating app, WhatsApp group, LinkedIn, or even a wrong-number SMS. Conversation drifts into lifestyle, then into 'I made some money in crypto, let me show you my strategy.' The platform you are pointed to looks completely real — dashboards, customer service, KYC, even tax statements. None of it touches a real market.
By the numbers
Median pig-butchering loss reported to GACS in the last 90 days: $58,300. Largest single report: $1.9M.
How pig-butchering brokers actually work
The 'platform' is a custom web app showing you a fabricated price feed and a fabricated portfolio balance. Every deposit you make is moved off the platform into the scammer's own wallets the moment it clears. The dashboard inflates over weeks to build trust.
When you try to withdraw a profit, the platform invents a fee — capital gains tax, anti-money-laundering deposit, exchange liquidity premium — that always demands more inbound crypto. Pay it, and another fee appears. The goal is to extract every cent you can borrow before you walk away.
Organised crews run hundreds of victims in parallel from compounds in Southeast Asia, the Gulf, and West Africa. The 'advisor' you talk to often follows a script written by handlers and is themselves trafficked. Reporting the platform shuts nothing down — the same operator launches a new domain within days.
What to do if a 'broker' has stopped your withdrawals
Stop sending money — the next 'tax' or 'liquidity fee' will never unlock your balance. The dashboard balance is fiction.
Preserve evidence: screenshot every chat, every wallet address you sent to, every transaction hash, and the full dashboard. File reports with IC3 (US), Action Fraud (UK), or your national cybercrime unit, and add the wallet addresses to GACS.
Block every 'recovery investigator' or 'crypto lawyer' that contacts you in the days after — they are second-stage scammers feeding off the original victim list.
Why GACS is the fastest free check
GACS Safe Scanner flags the platform's website and the destination wallets on a single check. If even one prior victim reported it, you see the warning in seconds — for free, with no signup.
Frequently asked questions
How do I know if a crypto broker is licensed?+
Every reputable regulator (FCA, SEC, ASIC, BaFin, CONSOB, FINMA, FSA, MAS) publishes a public register. If the broker is not listed in the jurisdiction where they claim to operate, they are unlicensed — full stop. Most regulators also publish a separate warning list of known unauthorised firms.
The platform shows my profit. Why can't I withdraw?+
Because the balance is not real. The 'platform' is custom software displaying fabricated numbers. Your deposit was moved into the scammer's wallet the moment it cleared. No fee, no tax, no commission will release a balance that does not exist.
Can I get my money back through a chargeback?+
Bank wires and crypto transfers are extremely hard to reverse, but bank/card payments to crypto exchanges sometimes can be charged back if reported within days. Contact your bank immediately, file a police report, and do not engage with any 'recovery service' that asks for an upfront fee.
Why does the broker keep introducing 'taxes' and 'fees'?+
It is the core of the scam playbook. Each fake fee tests how much more they can extract. Victims who pay one fee typically pay several more before quitting. The fees are the actual revenue model — the 'investment' is just the bait.
