A RETIRED senior Malaysian civil servant has lost RM525,000 to a fraudulent cryptocurrency investment scheme, which police have confirmed was operated by a non-existent syndicate advertised on social media.
Kuala Terengganu District Police Chief, ACP Azli Mohd Noor, said the 71-year-old victim encountered the scam through a cryptocurrency investment advertisement on Facebook on 23 May.
"The victim, a former Director of the Administrative and Diplomatic Service (PTD), communicated online with the suspect and was promised returns amounting to USD500,000," Bernama cited Azli saying in a statement.
He added that the victim proceeded to make seven separate bank transfers between 20 and 27 August, using his own pension savings, in hopes of securing the promised returns.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of imprisonment and fines upon conviction.
Azli warned the public to exercise caution when approached with investment opportunities online or via social media.
“Police advise the public to remain vigilant against various online and social media scams that often promise high returns but are, in fact, fraudulent,” he said. - September 29, 2025
