This story is about how a Malaysian woman leveraged artificial intelligence to create fraudulent cryptocurrency companies, deceiving investors worldwide and raking in RM8,000 monthly before ultimately walking away from the industry.
I landed my first job as a content creator after graduation but quit after six months. It turns out the company was a fraud.
I started job hunting three months before graduating and stumbled upon a promising ad on Jobstreet. It seemed like a straightforward content creation role, with the added task of using AI-powered tools to generate marketing material for blockchain startups.
Since I was still studying, I worked part-time, translating and editing articles that the company provided. The pay was decent, I received bi-weekly payments, and best of all, I could work from home.
Eventually, I was hired full-time in June. That’s when I noticed something was wrong.
They claimed they were developing revolutionary blockchain projects, but in reality, there were no projects—just well-packaged lies. The entire operation was a front for an international cryptocurrency scam.
A Company Built on Lies
A few days ago, I went back to Jobstreet to look at their hiring ad and found out they had changed their company overview and job scope entirely. The job posting now described the company as an “AI-powered blockchain solutions provider,” a title that sounded impressive but remained just as deceptive as before.
What they really did was create fraudulent cryptocurrency projects using AI-generated whitepapers, fake social media presence, and misleading investor reports. The technology industry they claimed to be part of was nothing more than a digital façade for a pyramid scheme targeting naive investors.
Pyramid schemes are illegal in many jurisdictions, including China. To skirt regulations, they never used the term “investment.” Instead, they convinced people to pay a “participation fee” for exclusive access to these so-called blockchain innovations. Participants were promised massive rewards—provided they recruited others into the scheme.
Does that not sound like a pyramid scheme to you?
AI-Powered Deception
One day, I was asked to research emerging AI applications in the crypto industry, including AI-generated trading bots, predictive analytics, and decentralized finance (DeFi) automation. Since I love research, I compiled a detailed report filled with real-world examples.
When I submitted it to my boss, he said I had done a fantastic job—but then he asked me to rewrite the entire report, swapping out legitimate company names for our own.
This was absurd. Our company had zero involvement in any of these AI advancements. They simply wanted to present it as their own work to lure investors.
My boss explained, “We need to make it look like we’re developing cutting-edge AI-powered blockchain projects. This way, we can attract more ‘members’ to fund our growth.”
Right.
Lavish Rewards, Empty Promises
Around May, the company held an extravagant dinner at a high-end restaurant in Kuala Lumpur. Even though I was still a part-timer, I was invited. During the dinner, I was informed that I would be joining them on an all-expenses-paid company trip to Beijing.
I was surprised because I had barely contributed to the company’s so-called “success.” But hey, a free trip is a free trip, so I went.
The trip was supposed to include a prestigious blockchain convention showcasing the latest AI-driven technologies. Since I was managing the company’s social media, I had to provide live updates from the event.
The reality? The convention was a disaster. The promised AI innovations? Nonexistent. The celebrity speakers? Only half of them showed up. The event was cut short, and the highly anticipated gala dinner was abruptly canceled without explanation.
Imagine being an investor who had paid thousands to attend this event, only to experience this level of unprofessionalism.
And how did the company make amends? They offered attendees a “limited edition” necklace, which was just a cheap accessory from a night market, sold at a “discounted” price of RMB488 (about RM290). Some people actually bought it, believing it was compensation for the convention’s failure.
I suggested issuing an apology to investors. The company refused.
The Biggest Lie Yet
One of the company’s projects—an AI-generated cryptocurrency—was failing. Investors were demanding their money back. Instead of refunding them, the company devised an outrageous plan: they told investors that to recover their lost funds, they needed to recruit more people into the scheme.
The investors were furious, posting complaints on the company’s website.
‘Heartless platform!!!!’
‘This is not ethical at all, who would want to harm others?’
‘Do you not know that you have already broken the law?’
The company’s response? Delete the negative comments and block the accounts of those who spoke out.
Meanwhile, they were manipulating their cryptocurrency, which they called “Pcoin” (name changed). When its value plummeted, they simply split it into multiple smaller tokens to artificially inflate its worth. I later discovered that Pcoin had no backing from any central bank or financial institution—meaning it was worthless.
The Final Straw
My job was evolving into something far beyond content creation. I was now expected to draft legal agreements, investment plans, and contracts—things I had no experience in.
When I protested, they told me, “Just Google and copy from other companies.”
It got worse. After one failed project, they asked me to draft an English-language contract filled with legal jargon designed to confuse Chinese investors. The goal? To ensure that investors unknowingly agreed to terms stating they wouldn’t get their money back.
I couldn’t bring myself to do it.
That’s when I knew I had to leave.
Walking Away
I resigned, knowing the company’s future was bleak. Investors were already threatening lawsuits. I was lucky to escape before legal trouble caught up with them.
Looking back, I realize how AI has made it easier than ever to create convincing scams. With generative tools, fraudsters can create fake projects, forge investor reports, and manipulate financial data at an unprecedented scale.
It’s a cautionary tale: just because a company uses AI and cryptocurrency buzzwords doesn’t mean it’s legitimate. If something sounds too good to be true, it probably is.
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