The illegal exploitation of wild abalone in South Africa has been escalating since 1994, despite increased enforcement, leading to collapse in some sections of its range. South Africa banned all wild abalone fishing in 2008 but controversially reopened the fishery in 2010. This paper formulates a poacher’s model, taking into account the realities of the abalone terrain in South Africa – the high-value of abalone, use of recreational drugs, the prevalence of bribery, and corruption – to explore why poaching has not subsided.