Sha Zhu Pan (Pig Butchering)

Sha zhu pan — literally 'pig butchering plate' in Mandarin — describes a sophisticated fraud model in which operators invest weeks or months cultivating an online relationship with a target, mirroring their interests, building trust, and creating emotional dependency. The 'fattening' phase involves no requests for money; it is purely about making the victim feel genuinely loved or befriended. Only after a strong bond is established does the scammer introduce a fake investment opportunity, typically involving cryptocurrency on a controlled platform.

The victim deposits funds, sees fabricated profits, and is encouraged to invest more. When they attempt to withdraw, they are told fees or taxes must be paid first. These additional demands continue until the victim has nothing left or realises the fraud. The 'butchering' is the final extraction of all available funds.

This scam model is organised at industrial scale, often operated by criminal syndicates in Southeast Asia who use trafficked labour to run the operations. Victims and unwilling workers are both harmed by the same criminal infrastructure.