(ABC 6 News) — Experts are warning of so called “pig-butchering” scams that are causing victims to lose their life savings.

Fraudsters use dating apps or text messages to strike up a relationship with a victim. Then, after months of building trust, the fraudster convinces them to send money or invest in crypto-currency schemes.

$4 billion were lost to pig-butchering crypto scams last year alone with many operating overseas.

Experts say always be skeptical if someone you just met starts talking to you about investing, and if it seems too good to be true, it probably is.