KUANTAN, March 6 — A student of a public university claimed to have lost RM42,500 which was allegedly used to buy video game currency which was advertised on Instagram.

Pahang Commercial Crime Investigation Department chief Supt Mohd Wazir Mohd Yusof said the victim, 22, claimed that he was interested in contacting the owner of the Instagram account on Friday (March 4) after finding that the currency was sold at a lower price compared with online shopping platforms.

"The victim claimed that the price offered was only RM600 for 38,400 currencies, prompted him to transfer the money on the evening of the same day to the account given by the suspect.

"However, the suspect was said to have contacted the victim to ask for more money for various reasons, including for the exchange of the currency before it could be credited to the victim’s video game account,” he said in a statement here today.

Mohd Wazir said the victim claimed to have used his own savings amounting to RM1,705 and was still asked to continue making payments to gain access to the currency, causing him to use his mother’s savings.

The victim's mother, who is a government retiree, is said to have given her online banking password to the victim to manage his personal payment transactions before.

"The victim only realised he had been cheated after making 10 online money transactions to three different accounts for two days, starting Friday,” he said.

The victim then lodged a report at the Jaya Gading police station here yesterday, and further investigation was carried out under Section 420 of the Penal Code for cheating, he said. — Bernama