Due to Bitpanda investment scam, a retired man lost all his money to pay off debts

There are often investment projects on the Internet that are said to be "guaranteed profits" and "low cost and high returns", but these are often accompanied by fraud and the blood and tears of the victims. Recently, a 65-year-old retiree from Kuantan District, the capital of Pahang State, Malaysia, was deceived into investing on the Bitpanda platform and lost a total of 730,000 ringgit (approximately 1.13 million yuan).

Due to Bitpanda investment scam, a retired man lost all his money to pay off debts

It is reported that the retired woman’s Instagram friends told her that she could get 20% profit by investing on the Bitpanda platform. She then registered on the Bitpanda website, which serves as an official platform for investors. Between April 20 and June 9, she transferred RM730,000 to 14 different accounts through 19 transactions. This not only consumed all her savings, but also borrowed a lot of money from friends.

She initially managed to withdraw her RM5,000 profit, but she has since been unable to access the site and her "instagram friends" told her she had to pay more to withdraw.

On December 28, the victim reported the incident to the Kuantan District Police Headquarters, and the police are currently investigating.

As a reminder, do not be blindly trusting or greedy, and do not believe in the investment temptations of strangers on the Internet. More importantly, you should find out the details of the platform before depositing money, choose a regular platform to invest, and do not give black platforms the opportunity to cheat.