Kuantan businessman loses RM218,000 after 53 transactions in crypto scam
KUANTAN, Sept 17 — A senior citizen lost RM218,239.24 after he was believed to have fallen victim to a non-existen...
A 65-year-old businessman from Kuantan has lost a significant sum of RM218,239.24 following his alleged involvement in a cryptocurrency investment scam. According to the authorities, the victim came across an advertisement for a cryptocurrency investment offer on Facebook, and subsequently joined a WhatsApp group related to the investment.
Acting Pahang police chief Datuk Azry Akmar Ayob stated that the victim was then instructed to make an investment, which was promised to yield high returns based on profits displayed through the Uphold application. The victim proceeded to make 53 transactions through Luno, Mxglobal, and Trust Wallet to the Uphold investment account. However, his Uphold account was subsequently frozen on August 20, and he was then asked to pay RM30,000 as tax to reactivate it.
Despite being asked to pay the tax, the victim did not receive any of the promised returns, and was ultimately unable to withdraw his funds. The case is currently under investigation under Section 420 of the Penal Code.
Police advice the public to exercise caution when presented with high-return investment offers, particularly those received through social media and messaging applications. It is advised to verify account and telephone numbers using the Semak Mule platform before engaging in any financial transactions. If an individual suspects they have been scammed, they are urged to contact the National Scam Response Centre (NSRC) at 997 or lodge a police report.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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