Bukit Aman: Unlicensed cryptocurrency investments detected using online platform

KUALA LUMPUR: Bukit Aman has detected unlicensed cryptocurrency investments using the M2Dcoin platform, says Comm Datuk Zainuddin Yaacob.

The Federal Commercial Crime Investigation Department director said they recently received a report about the cryptocurrency investment platform.

"Based on investigations, the investor is promised high profits after making payments through a middle man appointed to manage the investments," he said.

Comm Zainuddin said the platform has been operating since mid 2020, and investors are contacted via WhatsApp and offered such investment schemes.

He added in a statement on Friday (Feb 19) that the potential investor would then be given access to the M2Dcoin platform to make their investments.

"Our investigations revealed the platform was a foreign digital web exchanger site hosted in Arizona, United States.The site has been operational for over nine months and does not have a licence to conduct cryptocurrency operations in any country," he said.

Comm Zainuddin said checks revealed the site can no longer be accessed.

"We urge anyone with information or those who have invested in such schemes to come forward and lodge police reports so that further investigations can be carried out," he said.

"The public should refrain from investing in such schemes. Always do your research and check with the relevant authorities before making any investments," added Comm Zainuddin.