Surge in romance-crypto ‘pig-butchering’ scams hits South Korea

SEOUL — South Korea is grappling with a surge in romance scams increasingly linked to cryptocurrency fraud, with losses exceeding 100 billion won ($70 million) so far this year, according to police data. Despite the mounting damage, fewer than half of the perpetrators have been brought to justice.

Figures submitted to Rep. Han Byung-do of the Democratic Party of Korea by the National Police Agency show that between January and September, 1,565 romance scam cases were reported, marking a 48 percent increase from 2024. The arrest rate has improved to 46.9 percent, up sharply from 12.7 percent a year earlier, but authorities acknowledge the problem is expanding faster than enforcement efforts.

AI-fueled ‘pig-butchering’ schemes

These scams often employ so-called “pig-butchering” tactics, where fraudsters build emotional relationships with victims before luring them into fake investment schemes. Scammers typically contact targets through social media or dating apps, engage in daily conversations to establish trust, and later introduce fraudulent cryptocurrency platforms that display fabricated profits.

Victims are sometimes allowed to withdraw small amounts to reinforce the illusion of legitimacy. However, once they invest larger sums or attempt to retrieve their funds, the platforms disappear — along with the perpetrators.

Evolving and localized operations

Romance scams in South Korea were once dominated by criminals posing as foreigners, such as overseas doctors or soldiers, who targeted English-speaking Koreans with fabricated backstories. They commonly requested money for travel, customs, or medical emergencies.

Today, the schemes have become more localized and professionalized. Crime syndicates based in Southeast Asia are now hiring fluent Korean speakers and even native Koreans to impersonate locals, adopting realistic names, accents, and cultural behaviors to avoid suspicion.

In one major case, a Korean couple accused of running a 12 billion won pig-butchering network was arrested in Cambodia earlier this year. Seoul has formally requested their extradition, after investigators uncovered evidence that Korean recruits were being trained abroad to target victims back home.

Deepfakes and AI add new risks

Experts warn that artificial intelligence tools are amplifying the reach and realism of such schemes. Scammers have used AI-generated photos, deepfake videos, and falsified IDs to pose as actors, businesspeople, and military personnel.

In one recent case, a woman in her 50s reportedly lost 5 billion won after engaging with fraudsters who used AI-generated videos to impersonate a well-known Korean celebrity.

Beyond cryptocurrency, scammers are also branching into fake courier services, bogus online retail investments, and “processing fees” for non-existent loyalty points or digital gifts.

Psychological manipulation at the core

Police say the defining feature of these crimes is the emotional manipulation involved. “It’s not about gullibility,” one officer said. “The perpetrators invest weeks or months building emotional trust. That’s why even rational people fall for them.”

Online communities for victims have seen an influx of testimonies from those who lost anywhere from a few hundred thousand won to their entire savings, with some reporting the need for psychiatric treatment following the scams.

Lawmakers push for global response

Lawmakers and cybersecurity experts are calling for stronger international cooperation and stricter monitoring of dating platforms and messaging apps, which are frequently used to initiate contact with victims.

“Romance scams are no longer isolated crimes,” said Rep. Han. “They are transnational, AI-driven operations that require a coordinated global response.”

Authorities began formally tracking romance scam losses in 2024, when 1,265 cases led to damages totaling 67.5 billion won. In the first seven months of 2025 alone, another 1,163 cases were recorded, bringing total losses over the past 18 months to more than 137 billion won.

As technology enables more sophisticated deception, officials warn that prevention through public awareness and digital literacy may be the most effective defense against scams that exploit not greed, but trust and loneliness.