A RETIRED private company employee in his 70s lost more than RM1.2 million after being caught up in a non-existent crypto investment through a suspicious website promoted on social media.
The victim was said to have been attracted by the investment advertisement in mid-March before contacting the individual promoting it and being added to a WhatsApp group.
Sarawak Commercial Crime Investigation Department (CID) chief Assistant Commissioner Maria Rashid said the victim was then offered a crypto investment scheme through an online investment website.
“Attracted by the promise of lucrative profits, the victim made several money transactions in stages to the bank account given by the suspect, totaling more than RM1.2 million.
“However, the victim realised he had been cheated after failing to withdraw the profits shown in the investment account before coming forward to file a police report in Kuching,” he said in a statement today.
She said the public is always advised not to easily trust any investment offered through social media without checking first.
She said that checks on investment companies or websites can be done through Bank Negara Malaysia (BNM) at www.bnm.gov.my or the Securities Commission (SC) at www.sc.com.my.
Maria also reminded victims of cyber fraud who have just made a money transfer transaction to immediately contact the National Scam Response Center (NSRC) at 997 so that swift action can be taken to freeze the suspect's account. - November 4, 2025
