KUALA TERENGGANU: A retiree lost RM525,000 to a non-existent cryptocurrency investment.
District police chief Asst Comm Azli Mohd Noor said that on May 23, the 71-year-old man saw a cryptocurrency investment advertisement on Facebook.
He said the victim, who communicated with someone online, invested RM525,000 after being promised returns of US$500,000.
“The victim made seven transactions into the suspect’s account between Aug 20 and 27 using his retirement savings,” ACP Azli said in a statement yesterday, Bernama reported.
“The case is being investigated under Section 420 of the Penal Code.”
