KUCHING (Oct 11): A pensioner in his early 70s here lost nearly RM700,000 after he was cheated by an online cryptocurrency investment group which he joined in February this year.
Sarawak Police Commisioner Datuk Mohd Azman Ahmad Sapri in a statement said the victim came across an advertisement for the scheme on Facebook and was later contacted by one ‘Cheong Sheng Hee’ via WhatsApp.
“The victim was then added to a WhatsApp group called ‘GROUP 02 (A WALK IN THE WOODS)’ and attended an online class on how to invest in cryptocurrency through an app called Yomaex,” he said.
He said the victim also made two bank transfers totalling about RM697,000 to a company early this month in order to withdraw profits gained from the crypto investment.
“The victim only realised that he had been scammed after he was unable to withdraw the profits, and was also asked to transfer an additional RM355,000 to the company.
“The case is being investigated under Section 402 of the Penal Code for cheating,” said Mohd Azman.
The police commissioner advised the public to only invest in investment platforms recognised by Bank Negara Malaysia and the Securities Commission.
He said those requiring financial and investment advice should only contact registered agents.