i believe this is a scam, any investment products being sold in malaysia needs to register with the capital markets authority, (Securities Commission of Malaysia) and they need to prepare a prospectus to investors.

There is a lot of loop holes in malaysia legal that stops them from taking action. You see those swiss gold, only after so many years only bnm raided them and is not even the police

THere is a lot of scheme in the market. Also it requires a lot of planning, execution, manpower and money to run the schemes. Plus I dun think malaysia market big enough to have 1000 of these schemes. Just look at the amount of old schemes bank negara raided.. I think more than 10 at once.

Joint venture with Bina puri is nothing. Merely only getting Bina puri to construct the development and ufun as a company sells or markets it. This joint venture is legal by law so authorities dun touch it.

However, ufun make use of this news to scam investors saying even Bina puri is part of them. Many ppl dun understand the meaning of joint venture and letter of intents.

Few things to spot a scam
1. This is not a cryptocurrency like bitcoin, ufun tried to confuse ppl with irrelevant comparison.
2. This is not regularize, any form of digital currency or receiving funds online in Malaysia needs bnm approval.
3. All funds movements are control by the company which is not transparent
4. Promising such returns, nvr talk about risk. There is no such thing as no risk in any forms of investment.
5. Look at the ppl trying to sell you the product. Do they look like professionals or they look like some conman.