(InvestigateTV) — The U.S. Secret Service is warning about a crypto investment scam known as “pig butchering.”

Michael Peck, assistant special agent in charge with the U.S. Secret Service, said the agency continues to see a rise in the scams.

“Pig butchering today is the modern-day Ponzi scheme. It just uses crypto. If you think of butchering a pig, you start with a piglet then you fatten it up—you butcher it. Okay, so what we have is a number of bad actors throughout the world that are specifically putting out investment scams for cryptocurrency. They entice you to invest, you invest a small amount. Suddenly that amount explodes in value,” Peck said.

That early success can push people to invest even more. But when they try to take…