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A 77-year-old company director lost more than RM2.1 million after falling victim to a cryptocurrency investment scam that promised high returns.
The victim came across an advertisement on Facebook by “Digzax Exchanger Company” in August 2023, Selangor police chief Datuk Hussein Omar Khan said in a statement.
After initial contact through WhatsApp, the elderly director registered an account on the company’s website and transferred funds.
Hussein said the victim made 26 separate transactions to 11 different bank accounts.
How The Scam Unfolded
When no returns materialized, the scammers demanded an additional RM1.2 million to release the promised profits.
Only then did the victim realise he had been defrauded and filed a police report.
The case is currently under investigation under Section 420 of the Penal Code for cheating, the police chief added.
If you are scammed, you should immediately report it to the National Scam Response Centre (NSRC) by calling 997; this is the primary action to take when you suspect you’ve been a scam victim.
READ MORE: Malaysians Lost A Mind-Boggling RM11.2 Billion To Scammers In Just 5 Years
READ MORE: Malaysian Pilot Loses Over RM1.36 Million After Falling For Instagram Investment Scam
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