(Kuching, 8th) A retiree in Kuching was misled by a man who claimed to be an investment manager and promoted a "high yield" cryptocurrency trading plan. He was scammed out of 900,000 ringgit, losing all his hard-earned savings, and was left in despair.
With no one else to turn to, he sought help from Chong Chieng Jen, the chairman of the Sarawak Democratic Action Party and a state and federal assemblyman, hoping for assistance in recovering his hard-earned money.
According to the victim, he met a man claiming to be an investment manager on a social platform. This man was from Sarawak's Miri and claimed to possess "insider techniques" for cryptocurrency trading. He asserted that by investing in newly-listed currencies through a specific trading platform, one could enjoy a "launch bonus" with very high returns.
"Initially, I only invested a few thousand ringgit. Seeing that the trading data on the platform indeed showed profits and the account balance kept increasing, I invested more and more."
He said that under the manager's constant persuasion, he even used all his savings to increase his investment and buy more new currencies.
"The person kept saying that to withdraw profits, you must first pay a high fee and even suggested borrowing money or selling the house for 'cash flow', claiming this was a short-term 'investment operation' and that the capital could be quickly recovered."
However, when he tried to withdraw funds, the manager delayed him with various excuses from the platform. At this point, he realized he had been scammed, immediately reported to the police, and requested a thorough investigation into the case.
The victim also pointed out that most of the funds were allegedly transferred via a domestic bank to the specified bank account of the other party.
Chong Chieng Jen also reminded the public that any cryptocurrency investment claiming high returns often hides huge risks, especially those recommended by strangers on social networks. Be cautious, and don't be blinded by the prospect of high returns, falling into a scam trap.
He emphasized that the Sarawak DAP will continue to assist victims in protecting their rights, and called on the police and government agencies to severely crackdown on online fraud groups to prevent the recurrence of similar cases.
With no one else to turn to, he sought help from Chong Chieng Jen, the chairman of the Sarawak Democratic Action Party and a state and federal assemblyman, hoping for assistance in recovering his hard-earned money.
According to the victim, he met a man claiming to be an investment manager on a social platform. This man was from Sarawak's Miri and claimed to possess "insider techniques" for cryptocurrency trading. He asserted that by investing in newly-listed currencies through a specific trading platform, one could enjoy a "launch bonus" with very high returns.
"Initially, I only invested a few thousand ringgit. Seeing that the trading data on the platform indeed showed profits and the account balance kept increasing, I invested more and more."
He said that under the manager's constant persuasion, he even used all his savings to increase his investment and buy more new currencies.
"The person kept saying that to withdraw profits, you must first pay a high fee and even suggested borrowing money or selling the house for 'cash flow', claiming this was a short-term 'investment operation' and that the capital could be quickly recovered."
However, when he tried to withdraw funds, the manager delayed him with various excuses from the platform. At this point, he realized he had been scammed, immediately reported to the police, and requested a thorough investigation into the case.
The victim also pointed out that most of the funds were allegedly transferred via a domestic bank to the specified bank account of the other party.
Chong Chieng Jen also reminded the public that any cryptocurrency investment claiming high returns often hides huge risks, especially those recommended by strangers on social networks. Be cautious, and don't be blinded by the prospect of high returns, falling into a scam trap.
He emphasized that the Sarawak DAP will continue to assist victims in protecting their rights, and called on the police and government agencies to severely crackdown on online fraud groups to prevent the recurrence of similar cases.