Man loses over RM12mil in suspected crypto theft

A man from Perak has reportedly lost roughly RM12.47 million in a suspected crypto theft, according to the Perak police chief, Alwi Zainal Abidin.

The 38-year-old victim discovered the theft on Wednesday afternoon while in Teluk Intan. He noticed that an unspecified sum of his crypto assets had been transferred from his digital wallet without his authorization.

"Initial investigation revealed that the transaction involved the transfer of crypto assets through a blockchain network," stated the police chief. "We are currently conducting further investigations to identify those involved and tracking the flow of transactions with the assistance of the Bukit Aman commercial crime investigation department's crypto unit."

The case is being investigated under Section 420 of the Penal Code, which carries a potential penalty of imprisonment ranging from one to ten years, whipping, and a fine upon conviction.

Alwi Zainal Abidin cautioned the public about the dangers of phishing and online scams. He urged individuals to avoid clicking on suspicious links, to regularly monitor their digital wallet transactions, act promptly if they suspect their accounts have been hacked, and to strengthen their digital security measures.