Beginner Trader Duped by Fraudulent Investment Group on Telegram

A novice trader recently fell prey to an investment scam on Telegram. The investor, who wishes to remain anonymous, told his story to BrokersView, hoping that his experience would warn other novice investors not to fall for the scam.

As a beginner, the investor followed a Malaysian Introducing Broker on TikTok to learn about investing from him while looking for a good investment opportunity.

Unfortunately, a successful deal ended before it even started, because he accidentally ran into a scam.

In this fraudulent investment group called “GOLDLOVER SCALPER”, the fraudsters pretended to be other investors and rushed to the investment opportunity offered by an administrator.

_{A screenshot of the Telegram group}

According to the scammers, this so-called investment opportunity can bring substantial profits for investors within 3 hours, with a minimum of RM500 for earning RM10k.

_{Lucrative returns promised by scammer}

Encouraged by the administrator, the investor paid RM1,000 and promised that he could have RM 30,000 in return. However, the fact was that he did not earn any profit, but lost all the capital.

The tradings seemed to be successful,with a screenshot of his account showing “You WIN RM 547,800.00”, but the victim did not get any penny.

_{A screenshot of trading account sent by scammer}

It is worth mentioning that the scammer not only cheated the victim of his money, but also asked him for a lot of personal information, resulting in the security of personal information may also be at risk.

The victim didn't disclose any further details about the scam, but he wanted to warn people to be wary of fraudulent activity, especially those who knows nothing about investment. He suspects that the so-called “administrator” is the same person as the introducing broker he previously followed on TikTok.