RM250,000 Lost in ‘American Coins' Investment Scam Promoted on WhatsApp

A 64-year-old mechanic in Malaysia has lost nearly RM250,000 after falling victim to a fraudulent investment scheme promoted through WhatsApp.

Police said the victim was first approached by an unknown individual on WhatsApp who presented what appeared to be a lucrative investment opportunity linked to a programme known as American Coins and share trading. The offer was framed as a short term investment capable of generating unusually high returns within a brief period.

According to Pahang police chief Datuk Seri Yahaya Othman, the suspect promoted the scheme as an exclusive opportunity and encouraged the victim to invest quickly to secure the promised gains. The presentation of fast profits and limited time access created a sense of urgency that pushed the victim to act before carefully verifying the offer.

Believing the opportunity to be genuine, the mechanic began transferring funds using his personal savings.

Police said that between 2 September and 3 November 2025, the victim made six separate transfers to three bank accounts provided by the suspect. Over the course of those transactions, he transferred nearly RM250,000 in total.

The payments were made with the understanding that the money would be invested in American Coins and shares, which were supposedly expected to deliver strong returns within a short period.

However, the promised profits never materialised.

As weeks passed without any updates or returns, communication with the individual who had promoted the scheme began to break down. Eventually the suspect became completely unreachable.

At that point, the mechanic realised that he had likely been deceived and that his savings had been lost to a fraudulent operation.

The victim later lodged a police report at the Temerloh district police headquarters.

Authorities have since launched an investigation under Section 420 of the Penal Code, which covers offences related to cheating and fraud. The offence carries a potential penalty of up to 10 years in prison, along with whipping and financial fines upon conviction.

Investigators believe the case is connected to the so called American Coins investment scam, a fraudulent scheme that has recently appeared across social media and messaging platforms.

The operation typically promotes what is described as a high yield investment involving digital currencies or share trading. Victims are often told that their funds will be converted into virtual assets such as USDT, also known as Tether, or placed into profitable trading positions.

In reality, the investment does not exist.

Scammers usually approach victims directly through messaging platforms such as WhatsApp while posing as financial planners or investment experts. They often claim to have insider knowledge or access to exclusive opportunities capable of producing extraordinary profits.

To make the scheme appear legitimate, victims may be shown fabricated dashboards or digital statements that falsely indicate that their investment is rapidly increasing in value.

The deception becomes clear only when victims attempt to withdraw their supposed profits. At that stage, scammers frequently claim that the investment has not matured or that the account has been temporarily frozen by regulators.

Victims are sometimes pressured to pay additional charges described as processing fees or administrative costs in order to release their funds. These payments are never returned and the scammers eventually disappear.

Authorities warn that the speed and simplicity of messaging applications have made it easier for fraudsters to reach potential victims and operate anonymously.

The loss suffered by the mechanic illustrates how quickly such schemes can escalate once victims begin transferring money.

Police are urging the public to exercise extreme caution when approached with investment opportunities that promise unusually high returns within a short time frame. Experts repeatedly stress that legitimate investments rarely guarantee rapid profits, particularly when promoted through unsolicited messages.