Scams to Be Aware of in 2026
Malaysians lost approximately RM2.77 billion to scams in 2025. In 2026, let us not repeat the same mistakes again!
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How a Fake Moomoo Ad Led to the “New Dream Voyage 5” Scam
Abstract：A young engineer’s RM247,000 loss into a scam posing as Moomoo raises a chilling question: how many more are already trapped without realising it?
A young engineer in Sibu has suffered a loss of RM247,000 after being deceived by an online investment scam that used the name “Moomoo Malaysia” to lure unsuspecting investors.
Sibu police chief ACP Zulkipli Suhaili said the victim first encountered the scam through a Facebook advertisement promoting what appeared to be a legitimate Moomoo-related investment opportunity. After clicking on the link, he was contacted on WhatsApp and later added to a group known as “New Dream Voyage 5”. Members of the group claimed to offer professional guidance on stock investments.
The scammers instructed him to download an application called “WHG Roup”, claiming the platform was linked to Windsor Heritage Capital and Nexi Speak Global. These details were used to create the impression of a structured and credible investment operation.
Between 20 October and 9 November, the victim made 15 transactions amounting to RM247,000 into a local bank account. The scam became more convincing when he received a return of RM28,000, which led him to believe that the investment was genuine. This early payout served as a confidence-building tactic, a common method used by online fraud groups to secure larger sums.
The situation changed when the scammers pushed him to invest an additional RM250,000. Their insistence raised his suspicion, prompting him to stop further payments and file a police report.
ACP Zulkipli confirmed that the case is being investigated under Section 420 of the Penal Code for cheating. He stressed the need for the public to remain cautious when confronted with investment opportunities that promise unusually high or fast returns, particularly those promoted through social media.
He also urged individuals to verify the legitimacy of investment platforms through official sources such as Bank Negara Malaysia and the Securities Commission Malaysia. Tools like the Investment Checker can help determine whether a financial offer is genuine, while suspicious bank accounts and phone numbers can be verified through authorised channels.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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Criticism has emerged within the cryptocurrency industry following reports alleging that Kampanat Wimonnot, a former Web3 fund executive, was involved in a fraudulent investment scheme involving fake pre-token deals linked to well-known blockchain projects. According to the allegations, the scheme used documents and information that were claimed to be fabricated in order to create the appearance of legitimacy and attract investors. At least 24 victims from multiple countries have reportedly been affected, with losses ranging from tens of thousands of dollars to more than US$1 million. The incident highlights the risks associated with private allocation crypto deals and underscores the importance for investors to verify information directly with the originating project before making any investment decisions.
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Invest RM300, Make RM10,000? Police Say It’s a Scam
Malaysian police have warned the public about a surge in social media investment scams that promise extremely high returns, such as turning RM300 into more than RM13,000. Authorities say these offers are clear red flags, as scammers often use fake testimonials and profit screenshots to gain trust before disappearing with victims’ money. The public is urged to verify investment platforms and avoid schemes that guarantee profits.
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