(Kuching, 4th) — A retired man in his seventies from Kuching suffered losses as high as RM1.2 million after trusting an online investment advertisement on social media, and falling victim to an online investment scam.
According to a police statement, the victim, who had previously worked for a private organization and is now retired, developed an interest when he came across an 'investment' advertisement on social media in mid-March this year, subsequently contacting the party involved.
The suspect then added him into a WhatsApp group named '(A-3) AI Intelligence Future Forum' and recommended him a cryptocurrency investment scheme, using the investment platform 'BACXN Exchange', with the website url of www.bacxn.com.
Following the suspect's instructions, the victim transferred a total of approximately RM1.2 million in stages to several bank accounts provided by multiple suspects.
It was only when he tried to withdraw the so-called 'profits' from his 'BACXN Exchange' account that he realized he was unable to do so, and finally became aware that he had been deceived.
Police stated that as of the time the report was made, the victim had yet to receive any promised returns.
According to a police statement, the victim, who had previously worked for a private organization and is now retired, developed an interest when he came across an 'investment' advertisement on social media in mid-March this year, subsequently contacting the party involved.
The suspect then added him into a WhatsApp group named '(A-3) AI Intelligence Future Forum' and recommended him a cryptocurrency investment scheme, using the investment platform 'BACXN Exchange', with the website url of www.bacxn.com.
Following the suspect's instructions, the victim transferred a total of approximately RM1.2 million in stages to several bank accounts provided by multiple suspects.
It was only when he tried to withdraw the so-called 'profits' from his 'BACXN Exchange' account that he realized he was unable to do so, and finally became aware that he had been deceived.
Police stated that as of the time the report was made, the victim had yet to receive any promised returns.