Details about the scam

Type of scam: Pig Butchering Scam

Fraudsters contact the victim via the Chinese social media app, WeChat, about investing into cryptocurrency. The conversations initially are quite friendly, and they don’t push the investments.

The fraudulent website ( is a spoof of the legitimate company and website

At the beginning you will be able to withdraw small amounts to give you confidence it is real, however, when you try to withdraw your larger investments later, you will be asked to pay additional fees such as tax.  The trading figures are fictitious, and the money is never invested. Instead, the funds are stolen through cryptocurrency wallets owned by criminal money mules.

How the scam works/Evidence it’s a scam

IFW Global has been monitoring the activities of several Chinese criminal groups operating boiler room investment scams based in SE Asia. The scammers are using various online chat apps (including WeChat) to lure victims into “crypto trading platforms” to swindle investors. One of these scam platforms is known as “”. If you are a victim of this online crypto investment scam, please contact IFW today. 

This scam originated in Southeast Asia, and the name originates from the Chinese phrase “Shāz Hū Pán,” meaning pig butchering. A large criminal ring of cryptocurrency scammers searches dating and social media sites for victims.

Next steps

If you have been targeted by the scam, it’s important to follow the below steps immediately:

  • Do not invest any more money.
  • Report your fraud via the Australian Cyber Security Centre fraud reporting portal as soon as possible.
  • Submit an investment fraud enquiry to IFW Global to discover what we can do to recover your assets.

If you are in the US, report your fraud online via the FBI IC3 reporting portal at

IFW Global specialises in the investigation of cross-border investment fraud and asset recovery in foreign jurisdictions.  IFW uses advanced surveillance and investigation methods to combat cybercrime and track down victims’ money. Learn more about our fraud recovery services today.

Screenshots of scam website


Download screenshots of the scam website

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