Fake Trading App Costing Woman Over RM288,000 After Scam Originated on Chinese Social Media Platform

A woman in Miri has lost nearly RM288,000 after falling victim to a sophisticated online investment scam that used a fake trading platform designed to resemble legitimate stock investment applications.

Police said the victim, a woman in her 30s working for a private company, lodged a report on May 12 after discovering she could no longer withdraw either her invested funds or the profits she had been promised.

According to Miri police chief ACP Mohd Farhan Lee Abdullah, the scam began after the victim met a woman identifying herself as “Chloe” through the Chinese social media platform Xiaohongshu earlier this year.

The suspect later introduced the victim to what appeared to be an online investment opportunity linked to a platform known as Aetherbridge Capital, also referred to as AB Limited.

Police said the victim was subsequently added to a WhatsApp investment group, where she received guidance and investment related instructions from individuals believed to be part of the scam syndicate.

She was then directed to download the AB Limited application through the Apple App Store. Authorities said the application appeared highly convincing, with trading displays and stock market information closely resembling legitimate investment platforms such as Maybank Trade.

The platform also showed apparent profits after transactions were made, creating the impression that the investments were generating real returns.

Investigators said the false appearance of successful trades played a major role in building the victims trust and encouraging her to continue investing larger amounts of money.

Over time, the victim carried out 22 separate bank transfers to several company accounts provided by the suspects. The total amount transferred reached RM288,761.

Police said the victim only began to suspect something was wrong when repeated attempts to withdraw her profits failed.

Instead of processing the withdrawals, the suspects allegedly pressured her to continue purchasing additional shares, claiming higher investments would unlock larger returns and allow the withdrawals to proceed.

Authorities said the victim continued following the instructions in hopes of recovering her funds.

On May 12, the victim made another attempt to withdraw her money. However, she was informed that she first needed to pay an additional RM80,000 penalty before the transaction could be approved.

The demand raised further suspicion, and the victim eventually realised she had been deceived after being unable to access both her original capital and the promised profits.

Police believe the case reflects a growing trend in online investment scams that use realistic looking mobile applications and social media platforms to target victims.

Many of these scams operate through messaging groups, where victims are shown fabricated trading activity and fake profit records to create a false sense of legitimacy. Fraudsters often use pressure tactics and promises of high returns to persuade victims to invest repeatedly.

The use of familiar investment branding and interfaces similar to genuine trading platforms has also made such scams increasingly difficult for inexperienced investors to identify.

Authorities have repeatedly warned the public to verify investment platforms through official financial regulators before transferring funds or downloading unfamiliar applications.

The case is currently being investigated under Section 420 of the Penal Code for cheating.

Police have urged the public to remain cautious when approached with investment offers through social media platforms or messaging applications, especially schemes promising unusually high returns with little or no risk.