Pig butchering scam
Type of investment fraud / From Wikipedia, the free encyclopedia
A pig butchering scam, a.k.a. "Sha Zhu Pan"[2] or Shazhupan,[3] (Chinese: 杀猪盘), translated as Killing Pig Plate,[1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.[4] They are commonplace on social apps. In October 2023, 12% of Americans using dating apps had been victims, up from 5% in 2018.[5] The scammer builds trust with the victim through online communication, subsequently persuading them to invest in a fraudulent cryptocurrency scheme. The "butchering" or "slaughtering" of the victim transpires when their assets or funds are stolen.[6]
Pig butchering scam | |||||||
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Simplified Chinese | 杀猪盘 | ||||||
Traditional Chinese | 殺豬盤 | ||||||
Literal meaning | Killing Pig Plate[1] | ||||||
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The scam originated in China in 2016 or earlier,[7] and proliferated in Southeast Asia amid the COVID-19 pandemic. Perpetrators are typically victims of a fraud factory,[8] where they are lured to travel internationally under false pretenses, trafficked to another location, and forced to commit the fraud by organised crime gangs.[9]