Pig butchering (sha zhu pan)

Pig butchering — a translation of the Chinese term sha zhu pan — describes a long-running fraud that combines relationship grooming with investment fraud. The scammer builds trust over weeks or months as a romantic partner, friend, or mentor, then introduces a 'can't-lose' crypto or trading opportunity on a platform they fully control.

The name refers to 'fattening' the victim with affection and small early 'wins' before the 'slaughter' — extracting as much money as possible. Many of these operations are run at industrial scale by organised criminal groups, sometimes using trafficked, coerced workers.