In Nilai, a man has been scammed out of nearly RM230,000 in an online cryptocurrency scam.
Nilai OCPD Supt Abdul Malik Hasim stated that the victim, who is in his early 60s, was added to a Telegram group last October and encouraged to invest in cryptocurrency.
“It was on a platform supposedly based in Hong Kong, and an individual named Teacher Zhang promised potential investors high returns from their investments.
“The victim then invested RM8,000 and was told he had made a profit of RM15,000,” he said.
Supt Abdul Malik explained that Teacher Zheng then urged the victim to increase his investment for higher returns.
The victim eventually transferred RM228,000 in 13 transactions to nine different accounts.
The victim started to become suspicious about the investment as he was unable to withdraw his profits.
“Every time he tried to withdraw the money, he would be informed that his account was under investigation for money laundering activities.
“Upon realizing that he had been tricked, the victim reported the incident on Jan 26,” he said.
Supt Abdul Malik revealed that the case is being investigated under Section 420 of the Penal Code for cheating.
If found guilty, offenders can be sentenced to one to 10 years in prison, fined, and whipped.
He also advised the public to always check with Bank Negara or the relevant authorities before investing their money in any scheme.
