KUCHING, Feb 22 — A local man lost RM233,950 after allegedly falling victim to a non-existent online stock investment scheme in Miri.

Miri police chief ACP Mohd Farhan Lee Abdullah said the district’s Commercial Crime Investigation Division received a report from the victim, who is in his early 30s, yesterday.

He said the victim became interested in the scheme in October 2025 after browsing the website https://site.quantumone.asia/?a=login and was instructed to open an account for online stock trading.

“The victim was further enticed by profit claims shared in a stock investment WhatsApp group, where members purportedly displayed their earnings,” he said in a statement today.

Initially, the victim invested RM100 and claimed to have received a return of RM700 credited into his account. Encouraged by the apparent profit and promises of doubled returns, he proceeded to invest larger sums.

“The victim subsequently carried out 27 transactions to 21 different bank accounts. He only realised he had been scammed when the suspect continued demanding additional payments despite the promised profits not being credited,” Mohd Farhan said.

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

He advised the public to remain vigilant and not be easily swayed by investment offers promising unusually high returns within a short period.

He also urged potential investors to verify the legitimacy of investment platforms through the official websites of Bank Negara Malaysia and the Securities Commission Malaysia, and to contact the National Scam Response Centre at 997 if they fall victim to fraud.