IPOH, Sept 16 — A woman in her 60s lost more than RM5 million after falling victim to an online investment scam.
IPOH, Sept 16 — A woman in her 60s lost more than RM5 million after falling victim to an online investment scam.
Perak police chief Datuk Noor Hisam Nordin said the professional was tricked into investing through a fraudulent cryptocurrency platform known as “ElfTV”, which she was introduced to via Facebook and an online group called “AB4 Trend Navigation”.
“Investigations revealed her first transaction of RM10,000 was made in July 2025, with the final transaction in August. In total, the losses amounted to RM5,030,970,” he said in a statement.
The syndicate allegedly lured victims by displaying fake profits to build trust before instructing them to transfer funds into multiple local bank accounts. When the victim tried to withdraw her money, the transactions failed and her access to the platform was blocked.
Checks with the Securities Commission Malaysia later confirmed that ElfTV was unregistered and listed as an illegal investment entity.
The case is being investigated under Section 420 of the Penal Code for cheating. Noor Hisam also urged the public to be wary of social media investment offers that promise quick, high returns and to avoid sharing personal details with strangers to prevent misuse by scammers. — Bernama
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