Deceived by LiteForex Impersonator: Investor's Dream of Success Turns into Nightmare

A dream of good fortune was shattered when Malaysian investor Kien fell for an investment scam on Telegram. The victim reported RM7,000 in loss due to a LiteForex imposter.

Kien was looking for a chance to earn more money to cover his business expenses. His friends told him that investing may be a good way to find fortune, but they never discussed it in detail, so Kien did not know how to choose a reliable financial service provider.

By chance, Kien came across an investment group on Telegram. The group with its avatar tagged with the logo of legitimate FX broker LiteForex, claimed to ‘provide investment services for beginners and experienced investors’ and promised the ‘100% safety guarantee.’

_{The info pages of the investment group and its admin}

The administrator of the group claimed to be a staff of LiteForex and sent Kien the details of the investment scheme. According to the picture sent by the admin, the minimum deposit was only RM500, but investors were promised at least RM7,000.

_{The scammer promised lucrative returns}

Attracted by the promising profit, Kien decided to give it a try and transferred RM7,000 to an appointed bank account.

When Kien thought his trading went well and waited for withdrawal, the admin suddenly asked for a payment that was not mentioned before.

Kien realized that the scammer was lying, and said he wanted to quit.

However, he was immediately kicked out from the investment group, only to see that ‘LiteForex’ said “Sorry, we are closed.”

_{The last message sent by the scammer before the investor was kicked out of the group showed the scheme had been closed}