JOHOR BAHRU: A former engineer suffered a loss of RM9.47 million after participating in a non-existent online cryptocurrency investment scheme that claimed to offer high returns.
Johor police chief Datuk M Kumar said the police received a report from the 63-year-old victim yesterday, who said that he had seen an advertisement for the investment on social media in July last year.
He said that the victim then clicked on the provided link, which led him to a WhatsApp group, where he was contacted by two individuals who explained how to invest with a promised return of 50 times the initial investment.
“The victim, intrigued by the offer, proceeded to make 29 payment transactions between October and December last year to 11 different bank accounts, with a total amount of RM9.47 million,” he said in a statement today.
Kumar added that after the victim checked his investment and saw a reported profit of RM88 million, he intended to withdraw the profits, but was instructed to make another payment of RM800,000.
“The victim refused to make the payment, believing he had been scammed after the two individuals he had previously dealt with became unreachable,” he said adding that the case is being investigated under Section 420 of the Penal Code.
