Senior citizen duped of RM1.2mil in bitcoin scam


KUALA LUMPUR: A 74-year-old man has lost about RM1.2mil after he was duped by a bitcoin investment scam.

Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf said the victim was contacted on Oct 30 via WhatsApp by a man who convinced him to invest in bitcoin.

"The victim was given a web link for registration.

"He subsequently transferred funds totalling RM1.2mil to eight bank accounts. After that, he could not withdraw any returns or profits," he told a press conference at CCID headquarters on Friday (Jan 26).

The scammer convinced the victim that the eight accounts functioned as "money exchanges" as the investment was in the form of cryptocurrency, Comm Ramli added.

"The victim had just ventured into cryptocurrency investment when he was duped.

"We are investigating under Section 420 of the Penal Code for cheating," he added.

Comm Ramli said 37 cases have been linked to the same investment site, resulting in RM20.9mil in losses.

"Those who want to venture into cryptocurrency investment should refer to the Securities Commission (SC)," he said.

So far, only five companies are allowed by SC to handle matters related to cryptocurrency, he added.

"The companies are Luno Malaysia Sdn Bhd, HATA Digital Sdn Bhd, MX Global Sdn Bhd, SINERGY DAX Sdn Bhd and Tokenize Technology (M) Sdn Bhd," he said.

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