We report the discovery of an enigmatic large-amplitude (ΔKs > 10.5 mag) transient event in near-IR data obtained by the VISTA Variables in the Via Lactea (VVV) ESO Public Survey. The object (designated VVV-WIT-06) is located at R.A. = 17:07:18.917, decl. = −39:06:26.45 (J2000), corresponding to Galactic coordinates l = 347.14539, b = 0.88522. It exhibits a clear eruption, peaking at Ks = 9 mag during 2013 July and fading to Ks ~ 16.5 in 2017. Our late near-IR spectra show post-outburst emission lines, including some broad emission lines (upward of FWHM 3000 ~ km s−1). We estimate a total extinction of Αv = 10 15 – mag in the surrounding field, and no progenitor was observed in ZYJHKs images obtained during 2010–2012 (down to Ks > 18.5 mag). Subsequent deep near-IR imaging and spectroscopy, in concert with the available multiband photometry, indicate that VVV-WIT-06 may be either: (i) the closest Type I SN observed in about 400 years, (ii) an exotic high-amplitude nova that would extend the known realm of such objects, or (iii) a stellar merger. In all of these cases, VVV-WIT-06 is a fascinating and curious astrophysical target under any of the scenarios considered.