Engineer Loses RM275,000 in Moomoo Investment Scam

A 57-year-old engineer in Alor Setar lost RM275,000 to an online investment scam called Moomoo. The victim was lured by a WhatsApp link on April 20, promising a 10% return on Chinese currency investments. He communicated with scammers using two phone numbers and transferred RM275,000 in eight transactions between May 27 and June 13 to two company accounts, Cisi Infra Solution and Cisi CPT Infra Trading. When promised profits didn’t materialize and the scammers demanded more money, the victim realized he was scammed and reported it to the police. Kedah CCID chief Supt Loi Yew Lik advised verifying investment offers using tools like the Mule Check app, CCID’s Facebook page, or the National Scam Response Centre at 997.

Moomoo

Business News

Small Traders Face Subsidized LPG Shortage, Fear Market Disruptions