A 67-year-old medical specialist in Ipoh lost RM529,200 to a fake cryptocurrency investment and a subsequent fraudulent recovery service
IPOH: A 67-year-old medical specialist has reported a loss of RM529,200 after falling victim to a sophisticated cryptocurrency investment scam.
The Ipoh District Police Headquarters received the report from the victim regarding the incident, which began in late September 2025.
Perak Police Chief Datuk Noor Hisam Nordin said the victim initially received an investment link from an acquaintance on TikTok.
“Deceived by the suspect’s explanation, the victim made several money transfers totaling RM320,000 into various bank accounts registered under company names but the victim subsequently failed to withdraw the promised profits,” he said in a statement.
The victim then encountered an entity called International Justice Malaysia (IJM) on Facebook, which claimed to help resolve scam cases.
He contacted a man posing as a lawyer from the entity, who requested various payments for the recovery process.
“The victim suffered a further loss of RM209,200, bringing the total loss incurred to RM529,200. The victim began to feel suspicious and lost trust in the legitimacy of the dealings, subsequently lodging a police report,” Noor Hisam added.
The case is now being investigated under Section 420 of the Penal Code for cheating.
