Quantedge Capital Co. Limited: The Fake Platform Behind a RM703,000 Loss

A woman from Kuantan lost RM703,000 after falling for an investment scam linked to a platform called Quantedge Capital Co. Limited. The 47-year-old company manager believed she was investing in a legitimate opportunity shared with her through WhatsApp. Over the course of ten months, she transferred large sums of money but never received any returns.

The scam began in July last year, when the victim was told to download an app named Qc Secure, said to be operated by Quantedge Capital. She then made seven separate transactions into four different bank accounts. The scammers regularly provided updates showing that her investment was growing, but they did not allow her to withdraw any of the supposed profits.

To keep up with the payments, she used her savings, borrowed money from her husband, and even took a loan from her employer. When the scammers continued to pressure her to invest more, she realised something was wrong. She filed a police report, stating that she had been misled by a syndicate that promised high returns but delivered none.

Pahang police chief Datuk Seri Yahaya Othman confirmed the case. He explained that the group behind Quantedge Capital had used common tactics: fake apps, false profit updates, and emotional pressure to convince the victim to keep investing. By the time she realised the truth, the money was gone.

Authorities are urging the public to be cautious and check unfamiliar platforms before transferring any funds. One way to do this is by visiting https://semakmule.rmp.gov.my, a verification site run by the Royal Malaysia Police. Users can enter phone numbers or bank account details to check if theyve been reported for suspicious activity.

Another valuable resource is WikiFX. This free platform provides an extensive database of global broker profiles, regulatory status updates, and user reviews, enabling users to make informed decisions before committing to any financial investment. Its risk ratings and alerts for unlicensed or suspicious entities help investors identify red flags and avoid potential scams. By leveraging tools like WikiFX to research a brokers background, individuals can safeguard their savings and minimise the risk of falling victim to fraudulent schemes.