Malaysian man falls victim to $200k crypto scam
A Malaysian man, aged 42, has become the latest victim of a crypto currency scam, losing nearly RM1 million (approximately $212,000) of his savings. According to Johor Baru South Police assistant commissioner Raub Selama, the victim , who has not been named, was enticed by a foreign individual who promised lucrative returns on crypto currency investments through a mobile application. The scam promised a 60% return within just 60 minutes and additional revenue from each investment transaction. Trusting the scheme, the victim proceeded to make 126 transactions, amounting to RM989,170, all under the guise of investing in Bitcoin. The realization of the scam dawned upon him only when he could not withdraw his funds and discovered his account on the app had been blocked. You might also like: Malaysia accuses Huobi of operating unregistered crypto exchange In a separate but equally alarming case, a 77-year-old Malaysian man was defrauded of RM207,900 (about $44,540) in a pho...