Man loses over RM12m in suspected crypto theft

IPOH, October 10 — A 38-year-old man has reportedly lost approximately RM12.47 million following the alleged theft of his cryptocurrency assets. Perak police chief Datuk Mohd Alwi Zainal Abidin disclosed that the victim discovered the unauthorized transfer of his digital wallet contents around 1 pm yesterday while he was in Teluk Intan.

The preliminary investigation revealed that the transaction occurred through a blockchain network. The police are currently conducting a thorough investigation to identify the perpetrators and track the transaction flow, with the assistance of the Bukit Aman Commercial Crime Investigation Department’s Crypto Unit.

The case will be handled under Section 420 of the Penal Code, which stipulates a possible prison sentence ranging from one to ten years, whipping, and a fine upon conviction. In light of this incident, Mohd Alwi urged the public to exercise caution regarding phishing attempts and online scams. He advised individuals to refrain from clicking on suspicious links, regularly monitor their digital wallet transactions, act swiftly if they suspect their accounts have been compromised, and enhance their digital security measures.