The Commodity Futures Trading Commission (CFTC) charged digital asset platform Debiex with fraud, alleging that it took $2.3 million from investors. Also charged was Zhāng Chéng Yáng because Debiex used his digital asset wallet to misappropriate at least one customer’s funds, suggesting he was a “money mule”. 

According to the complaint, unidentified officers of Debiex initiated friendly or romantic relationships with potential customers and solicited them to open and fund trading accounts. This romantic scam is commonly known as “pig butchering.”

However, the customer funds were traded and Debiex websites only mimicked the features of a legitimate live trading platform. 

The complaint also alleges that Debeix targeted Asian Americans and contacted customers through social media platforms.

A [statement](https://www.cftc.gov/PressRoom/PressReleases/8850-24) by CFTC on Friday said, “From approximately March 2022 through the present, it’s alleged Debiex accepted and misappropriated approximately $2.3 million from approximately five customers as part of this scheme.”

According to CFTC Director of Enforcement Ian McGinley, "This case is an example of the Division of Enforcement’s core mission—bringing justice for victims, rooting out misconduct, and holding accountable those who violate the anti-fraud provisions of the CEA."


It is a common tactic among romance scammers. 

Sat Jan 20 2024 CFTC Charges Digital Asset Platform Debiex for ‘Pig Butchering’ Scam

Sat Jan 20 2024

CFTC Charges Digital Asset Platform Debiex for ‘Pig Butchering’ Scam