By Zaki Salleh
IPOH: A local woman in her 60s, who works in a professional field, has lost over RM5 million after falling victim to a non-existent cryptocurrency investment scheme.
The victim was introduced to a scheme known as ‘ELTFV’ via social media platform Facebook and an online investment group called ‘AB4 Trend Navigation’.
According to preliminary investigations, the victim made her first transaction in July, amounting to RM10,000. The final transaction took place in August.
Perak Police Chief Dato’ Noor Hisam Nordin said the syndicate used deceptive tactics by displaying initial profits on the investment platform to gain the victim’s trust.
After that, the victim was instructed to transfer money into several local bank accounts controlled by the syndicate.
However, when she attempted to withdraw her capital and profits, the transaction failed, and her access to the investment platform was blocked.
Following this, the victim checked with the Securities Commission Malaysia and discovered that the investment platform was unregistered and had been listed as an illegal investment entity.
Police are advising the public to always be cautious of investment offers on social media that promise high returns in a short period of time.
