A Months-Long Setup: SGD 96,000 Lost Through Xip Capitals Group
A Singapore professional met someone online who, over months, introduced her to a “family” ETH-staking opportunity on Xip Capitals Group. It was a pig-butchering scam. We traced the staking deposits and recovered a meaningful slice.
First Contact
It began as a warm, patient online friendship. Over weeks it became something that felt like a relationship, and only then did he mention how his “uncle’s” strategy let the family earn steady returns staking ETH on Xip Capitals Group.
He never asked for money directly. He simply showed his own “returns” and helped her open an account. Small deposits showed gains; she withdrew a token amount successfully early on, which removed her last doubts.
Where the Trail Went Cold
Encouraged gently and consistently, she increased her ETH “staking” deposits to SGD 96,000 over four months. When she tried a large withdrawal, Xip Capitals Group required a “staking settlement fee,” and her online partner suddenly went quiet.
The pattern — long grooming, a trusted introducer, a platform that pays small early withdrawals then walls the big one — is pig-butchering. The staking returns were fabricated; the deposits were swept off-platform as they arrived.
“He never once asked me for money. He just showed me his returns and helped me set it up. That’s what made it work.”— Claimant statement
Following the Trail
Reconstruct months of activity
We mapped the full deposit history to Xip Capitals Group, the chat record, and the early test withdrawal that built her trust.
Follow the staking deposits
Her ETH was swept from the platform as it arrived and split across multiple collector wallets over the four-month window.
Identify two reachable branches
Two of the collector branches deposited to centralized exchanges rather than self-custody — both reachable touchpoints.
Coordinated exchange filings
We filed labelled evidence with both exchanges and the Singapore authorities, tying the addresses to the Xip Capitals cluster.
Freeze the reachable funds
Both exchanges froze the balances that remained. The portion already moved into private wallets could not be recovered.
Trail’s End
About SGD 42,240 was returned across two exchange freezes. The long grooming period meant much of the earliest money was long gone — but tracing every branch recovered more than she expected.
Trail Markers
- A new online friend or partner who, over time, introduces a “family” investment opportunity.
- A platform reached through someone you met online — never one you sought out yourself.
- A small early withdrawal that succeeds, used to justify much larger deposits.
- A “settlement” or “staking” fee that appears only when you try to take real money out.
Someone you met online led you to a “staking” platform?
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