A MAN has lost more than RM300,000 to a non-existent online investment scheme operated via a mobile application known as Alpace, according to Kedah police.
Superintendent Loi Yew Lik, head of the Commercial Crime Investigation Department (JSJK) at the Kedah Contingent Police Headquarters, said the Kota Setar district police received a report on the case at 1.04pm on Monday.
“The victim was lured in by a Facebook advertisement promoting an investment opportunity and subsequently contacted several individuals via WhatsApp,” Loi said in a statement on Tuesday.
He added that the victim was then added to two WhatsApp groups – ‘The Ark of Alpha’ and ‘TBG Earning Plan 8’ – where further instructions were given regarding the so-called investment.
“The victim was told to download the Alpace app through a link provided by the suspects to facilitate the investment process. He was promised a 10 percent daily return,” Loi explained.
Believing the claims, the victim proceeded to make 18 separate transactions between 14 May and 17 June, transferring a total of RM302,100 into three different bank accounts without verifying the legitimacy of the scheme.
“The victim followed the instructions in the WhatsApp group without conducting any checks. He only realised he had been scammed when the suspects continued demanding additional payments, allegedly to recover his capital and the promised returns,” Loi said.
He urged the public to exercise caution when approached with investment offers on social media and to avoid transferring money to unknown individuals.
“Such scams are becoming increasingly sophisticated. We advise the public to verify offers through the ‘Semak Mule’ app, the official JSJK PDRM Facebook page, or by contacting the National Scam Response Centre (NSRC) at 997,” he added.
“Be a smart citizen and protect yourself from becoming the next victim of online investment fraud,” Loi stressed. - July 8, 2025
