Pig-Butchering Scams in Costa Rica
Romance-crypto investment scams target Costa Ricans via WhatsApp and Instagram, exploiting the country's growing crypto adoption and limited regulatory oversight.
Part of: Pig-Butchering Scams
Last reviewed: 1 June 2026
Costa Rica's relatively high internet penetration and growing middle class make it an attractive target for pig-butchering operations. Fraudsters pose as successful Costa Rican professionals abroad or foreign investors, building romantic or friendly relationships before introducing fake cryptocurrency investment platforms.
The Superintendencia General de Valores (SUGEVAL) regulates investment services but does not have specific crypto regulation, leaving a gap that scammers exploit. Victims typically transfer colones via SINPE Móvil — Costa Rica's ubiquitous instant payment system — or purchase USDT through local exchanges before funds reach the fake platform.
How this scam works on Costa Rica
Contact arrives via WhatsApp or Instagram from an attractive profile claiming to be a Costa Rican entrepreneur living in Miami or Mexico City. Over weeks, a warm relationship develops before the contact mentions a 'grupo privado de trading' generating consistent crypto profits.
Victims send colones via SINPE Móvil to a local mule account, which converts them to USDT and transfers to the fraudulent platform. The platform shows growing balances until a withdrawal is attempted, triggering a request for a 'SUGEVAL compliance deposit' or 'Hacienda tax clearance' payable in USDT.
SINPE Móvil's instant and irreversible nature makes recovery extremely difficult once funds leave the victim's account, and the scheme's operators are aware of this.
Common red flags
- Online contact quickly pivots from friendship or romance to private investment groups
- Investment platform not registered with SUGEVAL at sugeval.fi.cr
- SINPE Móvil transfer requested to a personal number for investment purposes
- Withdrawal blocked pending a SUGEVAL or Hacienda fee payable in USDT
- Contact claims to be a Costa Rican expat but is vague about personal details
- Platform app requires sideloading from a WhatsApp-shared link
How to protect yourself
- Check the SUGEVAL public registry at sugeval.fi.cr before depositing with any investment operator
- Never send SINPE Móvil payments to individuals for investment purposes
- Consult a SUGEVAL-registered investment advisor before committing funds
- Be especially cautious of crypto investment recommendations from new online contacts
- Test a small withdrawal before making further deposits
- Report unverified platforms to SUGEVAL before investing to protect others
How to report it
- Report to SUGEVAL at sugeval.fi.cr for investment fraud
- File a complaint with the Organismo de Investigación Judicial (OIJ) cybercrime unit
- Notify your bank to attempt a recall on recent SINPE Móvil transfers
Frequently asked questions
Can SINPE Móvil payments be reversed?
SINPE Móvil transfers are generally instant and irreversible once completed. If fraud occurs, contact your bank immediately and file a police complaint — banks can freeze recipient accounts in some circumstances if action is fast.