According to Johor police chief Comm M. Kumar, 12 people have reported losing a total of RM5.07 million to an online cryptocurrency investment scam between Jan 3 to 26. The victims were between the ages of 46 to 71.
The victims were lured by an investment scheme called Accerx, promising high returns in a short period, through advertisements on social media. Once they clicked on the link, they were added to a WhatsApp group and were promised significant profits.
“The victims were then instructed to download an application and register themselves on it to monitor their investments,” Comm Kumar said.
“Under the impression that they were investing in cryptocurrency, the victims made money transfers through the app. However, when one victim attempted to cash out his earnings, he was asked to make another payment and given various excuses, leading him to realize he had been scammed,” he added.
The victims’ losses ranged from RM177,000 to RM1.78 million, and the reports are being investigated under Section 420 of the Penal Code for cheating.
Comm Kumar urged the public to be cautious of investment schemes offered through social media, especially if they seem too good to be true. He also advised individuals asked to make online money transfers to verify the bank account number using the police Semak Mule app or website, and to contact the National Scam Response Centre at 997 if they suspect they have fallen victim to scams.
