SIBU, July 21: A retired trader in his 70s has become the latest victim of a sophisticated online investment scam, losing nearly RM800,000 to a non-existent scheme known as “GVD Coins,” Sarawak Police Commissioner Datuk Mancha Ata confirmed.
The incident, which began in mid-June 2025, unfolded after the victim encountered a promotional advertisement for the fake investment platform while browsing Facebook. Enticed by promises of high returns, he sought financial assistance from his family to take part in the scheme.
Despite repeated warnings from his loved ones advising caution, the victim proceeded to make multiple transfers in stages to a bank account provided by the scammer. The total amount transferred reached approximately RM800,000 before the victim realised he had been deceived and subsequently lodged a police report.
Commissioner Mancha emphasised that the scam bore all the hallmarks of fraudulent online investment offers, which typically promise unrealistic profits within a short timeframe.
He strongly urged the public, especially senior citizens, to verify the legitimacy of any investment opportunity by consulting official sources. These include Bank Negara Malaysia (BNM) via www.bnm.gov.my or BNM Telelink at 1-300-88-5465, and the Securities Commission Malaysia via www.sc.com.my or 03-6204 8999.
Individuals who suspect they’ve been scammed—especially those who have just made a transfer—are urged to immediately contact the National Scam Response Center (NSRC) at 997.
To help identify and block suspicious calls, the public is encouraged to use tools such as the Whoscall mobile app, or verify phone numbers and bank accounts through the Semak Mule CCID platform at http://semakmule.rmp.gov.my. Additionally, potential investment entities can be checked via the Investment Checker at https://www.sc.com.my/investment-checker.
Authorities continue to investigate the case and are urging the public to stay alert, consult financial experts before investing, and report suspicious schemes to the proper channels.
