Man loses over RM12m in suspected crypto theft

IPOH, October 10 — A 38-year-old Perak resident has reportedly lost approximately RM12.47 million after crypto assets in his digital wallet were allegedly stolen via unauthorized access. The victim discovered the unauthorized transfer of funds around 1 pm yesterday while he was in Teluk Intan. Police Chief Datuk Mohd Alwi Zainal Abidin stated that the investigation revealed the transaction was carried out on a blockchain network.

Authorities are now working to pinpoint the individuals involved and trace the transactions, with support from the Commercial Crime Investigation Department's Crypto Unit in Bukit Aman.

The matter falls under Section 420 of the Penal Code, which prescribes a sentence of imprisonment ranging from one to ten years, along with whipping and a fine upon conviction. In response to the incident, Mohd Alwi urged the public to remain vigilant against phishing and online scams. He recommended that individuals avoid clicking on suspicious links, regularly monitor their digital wallet transactions, take immediate action if they suspect their accounts have been breached, and enhance their digital security measures.