IPOH, Sept 16 — A woman suffered losses of over RM5 million after being duped in an funding scam through a web-based platform.
Perak Police Chief Datuk Noor Hisam Nordin stated the sufferer, an expert in her 60s, was deceived by means of a fraudulent cryptocurrency funding platform generally known as “ElfTV”.
He stated the sufferer was launched to the platform by means of Fb and a web-based funding group known as “AB4 Pattern Navigation”.
“Preliminary investigations discovered the primary transaction was made in July 2025 for RM10,000, whereas the final transaction was in August 2025. The overall recorded loss amounted to RM5,030,970,” he stated in an announcement final evening.
Based on him, the syndicate’s modus operandi was to persuade victims by displaying preliminary income in the system to realize their belief.
Noor Hisam stated the sufferer was later instructed to switch funds into a number of native financial institution accounts managed by the syndicate however when she tried to withdraw her capital and income, the transaction failed and entry to the platform was blocked.
“The sufferer finally checked with the Securities Fee Malaysia, which confirmed the funding platform was unregistered and listed as an unlawful funding entity,” he stated, including that the case is being investigated beneath Part 420 of the Penal Code for dishonest.
He due to this fact suggested the general public to all the time be cautious of funding affords on social media that promise excessive returns in a short while, and to keep away from disclosing private data to unknown events because it may very well be misused by criminals. — Bernama
