Now Reading
80-Year-Old Woman Scammed Over RM10 Million In Cryptocurrency Investment Scheme

80-Year-Old Woman Scammed Over RM10 Million In Cryptocurrency Investment Scheme

She was lured into a WhatsApp chat group and persuaded by an individual to invest in a cryptocurrency scheme.

Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates.


An 80-year-old woman in Malaysia has fallen victim to a cryptocurrency-based investment scam, losing a staggering RM10 million.

She was lured into a WhatsApp chat group and persuaded by an individual to invest in a cryptocurrency scheme.

Subsequently, she made 13 transactions, amounting to RM10,452,888, into multiple bank accounts.

After realizing that she had been deceived, the victim reported the incident to the police.

Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf confirmed the case and expressed sympathy for the significant loss experienced by the woman.

Ramli stated that the case is being investigated under Section 420 of the Penal Code.

He advises the public, especially the elderly, to be more cautious and not easily believe in online investment offers promoted through social media platforms.

“Conduct checks with relevant agencies, including Bank Negara Malaysia and the Securities Commission Malaysia, before deciding to join investment schemes,” he said.

Netizens commented that this is evidence that greed knows no age, whether young or old.

They wondered why, even though RM10 million could provide a comfortable life in old age, the victim still desires to accumulate more money.

Rising Scam Epidemic: Exploiting Malaysians of All Ages with New Technologies

The latest case highlights the escalating scam epidemic claiming Malaysians of all ages as syndicates exploit new technologies.

Lonely seniors are targeted with romance scams and phoney investment schemes.

But educated working adults also fall prey after being convinced to “invest” in non-existent cryptocurrencies.

Macau Scam groups have long tricked Malaysians by impersonating authorities like the police and demanding immediate fund transfers.

READ MORE: Man Loses RM1,250 In SMS Scam Despite Not Providing OTP

READ MORE: RM120K Lottery Con In Sarawak Highlights Rising Scam Cases In Malaysia

Now, sneaky smartphone apps give scammers access to contacts, messages and bank accounts.

The recent proliferation of digital coins also sparked bogus crypto platform sites, luring greedy investors blinded by the prospect of quick riches.


Share your thoughts with us on TRP’s FacebookTwitter, and Instagram.

Get more stories like this to your inbox by signing up for our newsletter.

© 2024 The Rakyat Post. All Rights Reserved. Owned by 3rd Wave Media Sdn Bhd