In Malaysia, a 69- year-old oil palm plantation manager fell into a cryptocurrency investment scam and lost RM1.9 million (about US$ 427,700 ). Johor Police Chief Datuk Kumar issued a statement saying that the police received a report from the victim yesterday.
that they could get 20% to 40% profit by investing in cryptocurrencies , but in fact the relevant investment plan did not exist. He said the victim was introduced to the investment plan by a person through WhatsApp , and was first instructed to download the relevant mobile application and then joined a group to invest . " From December 2024 to February 2025 , the victim transferred a total of RM1.9 million online to different bank accounts at the request of the other party . " He said that the victim later checked and the mobile application of the investment plan showed that he had earned 22 million ringgit (about 4.9522 million US dollars) in profits, but when he wanted to withdraw the profits, he was told that he had to pay first. Only then did he realize that he had been deceived and called the police.
" The police are investigating under Section 420 (Fraud) of the Malaysian Penal Code . Those found guilty may be sentenced to imprisonment for not less than one year and not more than 10 years, caning and a fine. " He advised Malaysians to be careful and not to trust investment plans that can easily and quickly get high returns . He also called on Malaysians to check the police's Facebook, Instagram , TikTok and other social media to understand the latest fraud patterns to strengthen prevention, and filter incoming call numbers and bank accounts through the anti-fraud website " Semak Mule" launched by the police .
“ Once a victim, Malaysians should immediately contact the National Scam Response Centre ( NSRC ) hotline 997 to stop money from being transferred into the suspect’s bank account as soon as possible. ”