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'Pelaburan Global Binance Malaysia': Another Investment Scam on Telegram

2024-06-14 BrokersView

'Pelaburan Global Binance Malaysia': Another Investment Scam on Telegram

Investment scams are all over the place and social media has become a breeding ground for scammers. If you've joined a chat group on Telegram called "Pelaburan Global Binance Malaysia", quit it. That’s an investment scam.


One of the victims of this scam told BrokersView about his experience.


The victim and his wife were trying to earn some extra income from investing and were searching for suitable investment opportunities online.


They saw an investment advertisement on Facebook and were attracted by the lucrative profits described in the ad. Then they joined a chat group called "Pelaburan Global Binance Malaysia".


According to the group's administrators, the investment opportunities they offered were safe and fast-returning, with lucrative profits. Even the basic package couldn generate at least 300% return for the investor!


Fraudulent ad

The investment scam group


After agreeing to participate in the 'investment,' the victim transferred RM3,100 to a bank account designated by the administrator. However, shortly thereafter, the scammer falsely claimed that his trading account has profited from trading, with the balance accumulating to an impressive RM15,000.


The balance shown in the account convinced the victim to believe the scammer's claim, but unfortunately, the "profit" was fabricated by the scammer.


Fake trading account


Just as the other similar scams, as soon as the victim initiated a withdrawal request, the scammers made various excuses to delay the withdrawal and even ask for more money.


In the end, the victim lost RM3,100 due to the Pelaburan Global Binance Malaysia scam.


In addition, according to a screenshot provided by the victim, it was found that the scammer was using the logo of LiteForex, a forex broker. Please note that LiteForex is a regulated financial company in Cyprus and is not registered with the Malaysian financial regulator SC.


If you are also looking for investment opportunities, make sure you choose a reputable regulated broker as your partner to avoid becoming a victim of investment fraud.