Inside the QNTCX Scam and Their Promise of 100% Returns

A 71-year-old consultant in Penang lost RM690,500 in just over six weeks after falling into an online investment scam that began with a single advertisement on TikTok. The case shows how quickly modern scams can unfold and how difficult they are to stop once money starts moving.

The scam began in mid-November when the woman came across a TikTok advertisement promoting a high-return investment opportunity. The offer claimed that investors could double their money in a short period. The message appeared professional and convincing, giving no clear signs of fraud at first glance.

After responding to the advertisement, the victim was contacted through WhatsApp by a person claiming to represent the investment scheme. The conversation soon became more structured and persistent. She was then added to a WhatsApp group called “QNTCX Invest”, which appeared to be an active investor community. Messages in the group suggested that other members were already making profits, creating a sense of urgency and confidence.

The woman was told to download an application known as “QNTCX” to register and manage her investments. She was assured that returns of up to 100 per cent were guaranteed, based on the amount invested. Trusting the platform, she began transferring funds as instructed.

Between 10 November and 23 December, she made 20 separate cash deposits into four different bank accounts linked to various companies. The total amount transferred reached RM690,500. The repeated requests for payments were presented as normal steps in the investment process, leaving little time for reflection.

The warning signs only became clear when the victim tried to withdraw her funds. Instead of receiving profits, she was told that additional payments were required before any money could be released. When the demands continued, and no returns were paid, she realised she had been deceived.

A police report was lodged on 29 December, and the case is now under investigation by the commercial crime unit. Authorities are probing the matter under Section 420 of the Penal Code, which covers cheating offences.