Beware Malaysians! ELTFV & AB4 Trend Navigation Scam Wipes Out RM5 Million

A Malaysian woman in her 60s has lost over RM5 million after falling victim to ELTFV, a fraudulent cryptocurrency platform promoted on social media.

The woman, a professional based in Perak, was first introduced to ELTFV through Facebook and an online investment group called AB4 Trend Navigation. Drawn in by what appeared to be genuine trading opportunities, she made her first transfer of RM10,000 in July.

According to Perak police chief Datuk Noor Hisham Nordin, the platform displayed fake early profits to gain the victims trust. Convinced of its legitimacy, she made further payments into several local bank accounts controlled by the syndicate. By August, her total losses had snowballed to RM5,030,970.

When she attempted to withdraw her capital and supposed profits, she was locked out of the platform. A subsequent check with the Securities Commission Malaysia confirmed that ELTFV was unregistered and flagged as an illegal investment entity.

Police are investigating the case under Section 420 of the Penal Code for cheating. The offence carries a penalty of up to 10 years in prison, whipping, and a fine.

Authorities have again warned the public to be wary of online investment schemes that promise fast or unusually high returns. They have urged investors to verify the legitimacy of platforms before transferring money or sharing personal details. Suspicious cases should be reported immediately to the National Scam Response Centre (NSRC) at 997 or the nearest police station.

Experts stress the importance of due diligence before engaging with online platforms. Tools such as the WikiFX mobile application, available on Google Play and the App Store, allow users to check a brokers regulatory standing, customer reviews, and safety ratings. With access to reliable data and risk alerts, investors can protect their savings and avoid falling into the traps of fraudulent entities like ELTFV.

The ELTFV case is a reminder of how quickly trust can be exploited in the digital age. What begins with a small transaction can escalate into devastating losses. As scams evolve in scale and sophistication, vigilance and verification remain the strongest defences against financial ruin.

At WikiFX, our mission is to empower investors with the knowledge and tools required to make safe, informed decisions. When selecting an overseas broker, we strongly advise exercising due diligence and, wherever possible, choosing one regulated by a reputable authority such as Australia‘s ASIC, the United Kingdom’s FCA, or other recognised regulators.

Should you fall victim to fraudulent activity, it is essential that you act without delay. We recommend reporting the matter to the police or consulting a qualified solicitor, as well as contacting your local consumer affairs office.

To further support investors, the WikiFX app delivers daily push notifications highlighting brokers identified as posing withdrawal risks. For timely updates and reliable protection, we encourage you to download the app.