RM62k Lost Investment Scam After Joining XRP Community Malaysia on Telegram

A 30-year-old homestay manager from Chendering, Malaysia, fell victim to an online bitcoin investment scam, losing RM62,214.59. According to Kuala Terengganu police chief ACP Azli Mohd Noor, the incident unfolded after the victim joined a Telegram group named “XRP Community Malaysia” on December 19. The group promoted bitcoin investments allegedly powered by Artificial Intelligence (AI).

Seeking further details, the victim reached out to the scam operator through WhatsApp. The individual was instructed to complete two transactions amounting to the total loss using the Trust Wallet application. As part of the supposed investment process, the victim was provided with a QR code to scan for AI verification.

Upon scanning the code, it became apparent that the bitcoin had been transferred to an unidentified account. Efforts to contact the perpetrator proved unsuccessful, prompting the victim to file a police report.

The funds used for this investment were reportedly savings belonging to the victim's mother. Police have classified the case under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property.

Authorities are urging the public to remain vigilant against unverified investment schemes. They emphasised the importance of thoroughly researching financial opportunities before committing funds to avoid similar losses.

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The platform also assigns risk ratings and flags suspicious or unlicensed entities, equipping users with a clear view of potential red flags. By utilising resources such as WikiFX, individuals can significantly lower their chances of falling prey to fraudulent schemes and protect their savings from being misused.