Pig butchering (also known as “Sha Zhu Pan” in Chinese) is a type of long-term financial scam where fraudsters build trust with victims over time before convincing them to invest in fake cryptocurrency or stock schemes or real estate development . The name comes from the idea of “fattening the pig” (grooming the victim) before “butchering” them (stealing their money).
How the Scam Works:
1. Initial Contact – Scammers reach out via dating apps, social media, or messaging platforms (like WhatsApp or Telegram), pretending to be a romantic interest, friend, or investment advisor.
2. Grooming (Fattening the Pig) – They spend weeks or months building trust, often through flattery, fake personal stories, or fabricated success in trading, Sending out fake comments and positive reviews from anonymous names
3. Investment Pitch – The scammer introduces a “lucrative” investment opportunity, usually in cryptocurrency, forex, or stocks, and directs the victim to a fake trading platform. Or introduce unexisting real estate development projects and offer installment payments
4. Fake Profits – Victims see their “investment” grow on the fraudulent platform, encouraging them to deposit more money.
5. Exit Scam (Butchering) – When the victim tries to withdraw funds, they are told to pay “fees” or taxes, or the scammer simply disappears with all the money. And in the case of real estate development scam, They keep telling you to make additional payment so as to be able to finally access the property. Through this , the victims keeps digging in further before the scammers eventually becomes incommunicado .
Warning Signs:
– Unsolicited messages from “strangers” offering investment tips.
– Pressure to invest quickly in “exclusive” opportunities.
– Inability to withdraw funds due to sudden “issues.”
– Fake websites or apps that mimic real trading platforms.
How to Avoid Pig Butchering Scams:
– Never trust unsolicited investment advice, especially from strangers online.
– Verify platforms before investing—check reviews are genuine and verify official registrations.
– Be skeptical of “too good to be true” returns —real investments carry risk.
– Don’t send money to unknown individuals or unverified platforms. Especially for those in diaspora. because these scammers know the possibility of the victims having the luxury of time to pursue them legally is slim
Pig butchering scams have stolen billions worldwide, often linked to organized crime rings in Nigeria. If you suspect you’re being targeted, stop communication immediately and report it to authorities.
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About the author
Charles Akinjide Ogunmoriyele is a chemical engineering graduate of Obafemi Awolowo University, Nigeria. He founded Edward Louis Limited, focused on renewable energy, real estate, manufacturing, and cybersecurity. Motivated by a personal incident involving cybercrime in 2018, he pursued cybersecurity education and certifications and now an advocate of cyber security awareness. He can be reached via email at edwardlouislimited60@gmail.com
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