A 74-year-old man has lost around RM1.2mil after falling victim to a bitcoin investment scam in Kuala Lumpur. According to Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf, the victim was contacted on Oct 30 via WhatsApp by a man who persuaded him to invest in bitcoin.
The victim was provided with a web link for registration, following which he transferred funds totaling RM1.2mil to eight bank accounts. However, he was unable to withdraw any returns or profits after the transfer, as revealed by Comm Ramli during a press conference at CCID headquarters on Friday (Jan 26).
The scammer convinced the victim that the eight accounts functioned as “money exchanges” in relation to the investment’s cryptocurrency nature, Comm Ramli added. “The victim, who had recently gotten into cryptocurrency investment, was duped,” he added, further noting that the case is being investigated under Section 420 of the Penal Code for cheating.
Comm Ramli also disclosed that 37 cases have been linked to the same investment site, resulting in RM20.9mil in losses. “Those interested in cryptocurrency investment should refer to the Securities Commission (SC),” he advised. He also stated that only five companies, namely Luno Malaysia Sdn Bhd, HATA Digital Sdn Bhd, MX Global Sdn Bhd, SINERGY DAX Sdn Bhd, and Tokenize Technology (M) Sdn Bhd, are currently authorized by the SC to handle cryptocurrency-related matters.
