The RM1.68 Million WeChat Nightmare: How One Man’s Trust Cost Him Everything

WeChat investment link led victim to download a fake crypto trading platform.

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A man fell victim to an online investment scam after downloading a fake investment platform application through a WeChat link sent by a supposed investment expert.

In an attempt to withdraw his investment profits, he was deceived into making 44 transfers, losing RM1,688,725.

Selangor police chief Datuk Hussein Omar Khan issued a statement saying that police had earlier received a report of significant losses due to a fraudulent investment scheme in the Ampang area.

He said the victim clicked on an investment link on WeChat and followed instructions to download an investment platform application similar to Luno, which provides easy access to cryptocurrency trading and investment.

Why You Should Always Check Your Apps’ Credentials

The victim made the transfers to four different bank accounts provided by the suspects.

When he couldn’t withdraw the money, he realized he had been scammed and reported it to the police.

Police have launched an investigation under Section 420 of the Penal Code, which addresses the offense of fraud, explicitly involving fraudulent inducement to deliver property or any monetary value.

Hussein reminded the public to be vigilant about investment schemes offered through online and trading applications and to verify the legitimacy of investment projects with institutions like Bank Negara Malaysia (BNM) and the Securities Commission (SC) before investing to avoid becoming victims of fraud.

Kalau korang kena scam, boleh la call hotline 997.

Duit tu boleh di trace kemudian diorang boleh freeze account scammer berkenaan.

Kalau duit tu belom di transfer/withdraw, korang boleh dapat balik duit korang tu. pic.twitter.com/RgNTyEm61a
— Adli Ishak (@theofficialadli) October 12, 2024