# Pump and Dump

The Billionaire and the 'Butchering': Behind the 83% Collapse of a Jack Ma Associate’s Hong Kong Venture

The 83% crash of Jingwei Tiandi Holdings has exposed a suspected 'pig-butchering' scam linked to Qian Fenglei, a close associate of Jack Ma. The collapse highlights systemic vulnerabilities in the Hong Kong-Mainland Stock Connect, where retail investors are often targeted by sophisticated pump-and-dump schemes.