SHAH ALAM: A company director lost RM2.1 million after falling victim to a non-existent investment scheme on a registered cryptocurrency exchange platform.
Selangor police chief Datuk Hussein Omar Khan said the 77-year-old man was attracted to the offer that was related to cryptocurrency investment when he saw an advertisement on Facebook last August.
“The victim contacted the suspect via WhatsApp to join the investment scheme and registered through a link given to him.
“The victim then made 26 cash transactions totalling RM2,118,810 into 11 different accounts after being promised lucrative returns,” he said in a statement today.
Hussein said that despite making the transactions, the victim did not receive any of the promised returns and was even told by the suspect to pay taxes amounting to RM1.2 million to withdraw the profits from the platform.
“The suspect realised he had been scammed and lodged a police report in Kajang,” he said, adding that the case is being investigated under Section 420 of the Penal Code.
Hussein advised the public not to be easily influenced by investment offers on social media that promised unreasonable returns, particularly through mobile phone apps not approved by Bank Negara Malaysia or the Securities Commission Malaysia.