Pig butchering (sha zhu pan)
A long-con scam that blends romance or friendship with a fake investment platform, 'fattening up' the victim with attention before taking everything.
Also known as: sha zhu pan
Last reviewed: 1 June 2026
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.
Sources
- SEC Investor.gov — Protect Your Money: How to Avoid Investment Scams — U.S. Securities and Exchange Commission
- FCA — ScamSmart — UK Financial Conduct Authority
- CFPB — Fraud and Scams — Consumer Financial Protection Bureau
- Scamwatch — Investment Scams — Australian Competition & Consumer Commission