Crypto Investor Loses $14K in Elaborate Game-Themed Scam

Singapore-based angel investor Mark Koh fell victim to a sophisticated crypto fraud scheme, losing $14,189 in digital assets accumulated over eight years. The malware was disguised as a legitimate gaming project called MetaJoy, complete with professional documentation and a seemingly credible team.

Koh, an early Polygon investor, disclosed the incident on LinkedIn. His loss stemmed from keeping assets on-chain rather than on centralized exchanges—a decision he now regrets. The scam involved a fake beta testing campaign promoted via Telegram, where Koh interacted with a purported co-founder named 'Shanni,' who listed affiliations with Persistence One and Bitunix Official.

The incident underscores rising security risks in Web3, particularly around social engineering and fake projects exploiting DeFi enthusiasm. Koh’s case mirrors broader industry challenges as crypto scams grow more elaborate, leveraging gamification and fabricated credentials.