Elderly Accountant Falls Prey to Shocking RM460,888 Bitcoin Scam—Don't Let This Happen to You!

JOHOR BAHRU: In a heartbreaking incident that highlights the perils of online scams, a 61-year-old accountant has lost a staggering RM460,888 after being lured into a fraudulent Bitcoin investment scheme. As authorities delve deeper into this case, the shocking details reveal just how sophisticated scammers can be.

According to ACP Mohd Sohaimi Ishak, the victim, seeking a wise investment option as she nears retirement, came across an enticing advertisement on Facebook promoting a Bitcoin investment platform known as "PFOU." Curious and possibly overwhelmed by retirement anxieties, she clicked the link and was swiftly added to a Bitcoin investment group where multiple individuals pitched her the "surefire" investment strategy promising sky-high returns.

Convinced by the stories of rapid profits, the victim decided to invest in late December 2022, after being instructed to download an application named 'UVKXE,' which was supposed to help her track her investment and monitor her growing wealth.

Over the course of a few weeks, she made three substantial payments totalling RM460,888 to various bank accounts, believing she was setting herself up for a prosperous future. However, what followed was a gut-wrenching realization: although the app displayed an impressive balance of USDT1,219,907.6624—approximately RM5.5 million—when she attempted to withdraw her profits, the scam took an even darker turn. She was informed that she needed to pay a management fee of RM550,152.35 to access her supposed earnings.

Feeling a sense of dread and suspicion about the legitimacy of the scheme, the victim wisely refrained from making the additional payment and promptly reported the incident to the police.

ACP Mohd Sohaimi stated that the case is currently under investigation according to Section 420 of the Penal Code for cheating, which could lead to a maximum jail term of 10 years, along with possible caning and fines. Moreover, authorities are also investigating the potential involvement of money mule accounts under Section 424 of the Penal Code, which could incur a maximum fine of RM100,000 and a prison sentence of up to seven years.

This case serves as a stark reminder to the public about the increasing threat of online scams. Authorities are urging everyone to exercise caution when approaching investment opportunities, especially those that promise quick and significant financial returns. Scammers are intensely clever and often use social media to target vulnerable individuals. If something seems too good to be true, it probably is. Stay vigilant and safeguard your hard-earned money!