Pig butchering scam

Type of investment fraud

A pig butchering scam, a.k.a. "Sha Zhu Pan" or Shazhupan,, translated as Killing Pig Plate, 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. They are commonplace on social apps. In October 2023, 12% of Americans using dating apps had been victims, up from 5% in 2018. 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.

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