Beware of Saham Berjaya - An Illegal Crypto Platform in Malaysia Using Fake License

An investor should be careful in the risky market - though everyone knows it, not everyone is cautious enough in the investment market. Knowing crooks will "clean up" investors' pockets, some victims may still be attracted by words such as "high yield". Eventually, they will find it is nothing but a scam.

An investor from Malaysia said she had kept a Telegraph group after seeing people sharing their "investment experience" in the group with the idea of learning something about investing from others.

From the group administrator, she learned of an investment package with a minimum deposit requirement of only RM1,000 but profits of up to RM15,000. And the more you invest, the more you earn - invest RM100,000 and earn RM1.1 million! What's more, investing is the only thing the customer has to do - no need to trade in person - and the proceeds will be in your account in 3 to 6 hours.

Seeing such a high rate of return, the investor said she was skeptical but also very attracted. However, in response to her concerns, the admin showed a license issued by Bank Negara Malaysia, trying to prove the trading platform Saham Berjaya is legitimate. However, the investor was unaware that the license was actually fake.

In the end, the investor invested the minimum required amount of RM1,000. After about two hours, the administrator claimed the profit could be withdrawn and asked her to check her account. However, before withdrawing the profit to the bank account, the user had to pay RM5,000 first.

The investor, who was already skeptical, was sure that she had been scammed.

BrokersView reminds you

Saham Berjaya claims to be a cryptocurrency trading platform and promises to provide investors with "a reliable source of high income, while minimizing any possible risks and offering a high-quality service." However, the "license" provided to investors is fake.

Moreover, the Securities Commission of Malaysia (SC) had reminded the public that according to Section 7(1) of the Capital Markets and Services Act 2007, it was illegal to operate a digital asset exchange in the country without being registered as a Recognized Market Operator (RMO) by the Commission.

In recent years, various types of scams have appeared frequently on Telegram, with investment scams accounting for a large portion of these scams. Many victims have reported that they were duped due to misleading advertisements and information on Telegram as well as other social media. Investors must be vigilant and not be blinded by lies or hand over their hard-earned money to scammers for nothing.