Earned RM15,000 but Lost RM1.1 Million: Malaysian Engineer Falls Victim to Online Investment Scam

A 36-year-old Malaysian engineer has fallen victim to an online investment scam, suffering losses totaling RM1.1 million. Initially drawn in by an RM15,000 profit, the victim later borrowed money from family members and relatives in hopes of increasing his earnings, only to find himself trapped in a fraudulent scheme.

The victim joined an online investment scheme known as “Boom-s” on December 3 last year, where an alleged administrator guided him through transactions on the investment application. Over time, he transferred funds across seven separate bank accounts in 19 transactions.

While he successfully withdrew RM15,023, the administrator later claimed he had amassed over RM4 million in profits but repeatedly denied withdrawal requests, citing various reasons. When attempts to recover the funds failed, the victim filed a police report.

Authorities have urged the public to remain cautious and thoroughly verify any online investment opportunities to avoid falling prey to similar scams.