Sha Zhu Pan is a way of getting people scammed in the most sophisticated and planned manner where people are convinced that they have found the one while the whole time it’s a script that is being read to get you to start investing in crypto but only to put you in a situation from where there is no going back. This way of scamming people is also called Pig butchering or Killing pig plates.
How do they start?
In this Sha Zhu Pan or pig butchering, these scammers start from different dating apps or sites like Tinder, Hinge, Match, Bumble etc. On these sites people come in search of love, all vulnerable and desperate most of the time they ignore the red flags but in the case of these scammers, they don’t even give you a chance to find a single red flag. They present themselves with a charismatic personality and a well-intricate story with everything from where they live to what they do. Once they know they’ve made a status in your life, they start fattening you.
The process of Fattening
In the beginning, for the first few months, approximately 2-3, they will adore you and be the perfect person, the one you were searching for a while. All they are doing is reading a personality and acting as human as possible and this whole time they will not bring up the topic of crypto investing apart from sliding it into the conversations like telling them as your hobby or time pass.
These first few months of flirting and impressing one might say are the process of fattening the pig. This is the time when they fool you into trusting them and making you think that you can trust them. Moreover, they won’t bring up the topic of crypto as a full-fledged topic until you willingly ask more about it and once you do they start with the execution.
After this, they will start with the execution of a scam which in most situations is in two parts. Let us discuss them both.
Dating Crypto Scam – 1st First Part
This is the first or initial stage of scamming a person, they will start by being a helping hand to you. They will help you understand what and how the crypto market works and the methods to invest. After this, they will suggest to you some legitimate sites to invest your money in, from where they will ask you to transfer your funds to another site.
These sites where they ask you to transfer your funds might seem to be a legitimate sites with articles from Yahoo or Newsfile to back them up but in fact, are just a wallet owned by an individual.
These fake sites are also called dummy exchanges where, they will provide you with a fake ICO – initial coin offering, which you can use to start investing. At first, they will show you that you are gaining profits, to make you invest and once you do they push you into this trap of investing more and more.
Once you wish to withdraw, they slide you into the second round or part of the scam.
Dating Crypto Scam – 2nd Part
The second part of the scam begins with fine prints that your so-called partner in investment and date didn’t find important to mention. For simplification let’s just call this part the withdrawal trap.
At this withdrawal trap, they will first make it all your fault to not go through those terms and conditions and then will present to you with a by the book guideline help which all most every time involves investing more or to be precise investing the same amount as you have in your account already to withdraw your money.
After the withdrawal trap is over, then begins the finale.
Dating Crypto Scam – Final Part
In the final round on this scam, they will show you that the market is down; thus suggesting not to withdraw. This is a lie as these sites do not control the market, and they keep you so involved that you do not have time to check or verify the market elsewhere.
And even when you decide to withdraw at a loss, they will ask for a hefty tax to get your money.
Now your scammer date or partner would act as if he has gone out of his way and found you a solution. let’s call this a solution scam.
At this stage, they talk about having talked to someone in a higher position in the company and have come up with a solution where without paying any more money, you can withdraw. However, this would be the last time you will be seeing your money which to be technical was lost the second you invested.
Once you deposit the last amount hoping for it all to end, you will realize that the person you are talking to along with all your investments is gone.
From where and how do they operate?
According to the research, this scam is not done just by one person but probably by many, working as a community, or there could be scam companies out there operating from any part of world. Many a times, they are not native speakers, and are from Asia and Africa, and have very well prepared scripts to work with.
These scammers can have such real profiles is because of the policies of dating apps/sites like match group or tinder where this information is available to all, making anyone an imposter and someone else to be the victim.
How they mostly do this is, by buying fake accounts and infesting these sites by imposing as someone else, and this can not be traced as a theft because they do an excellent job at editing and maintaining these accounts.
They use sites like Hilsu, Chainlity, Chaintify, Hjuae etc which are just a front for all these scams. And anything once gone in these sites, there is no getting back of even half the amount you lost.
People tend to blame the victims, but it is to be understood that these scammers work in a very smooth manner where they leave no room for doubt. Moreover, with this recent hype in crypto investment, crypto scams have also been growing in numbers, even the FBI released a notice to be aware of sites and people like these due to an increase in these dating crypto scams.
This article is just to shed some light on these scams and not to blame any of the victims. Make sure you do thorough research before investing. If you ever encountered any crypto dating scam, share with us under comments.