BALIK PULAU, Oct 9 — A man, believed to be a mule account holder for a syndicate in an online Bitcoin investment scam, resulting in the victim losing RM129,970, was arrested by the police yesterday.

Barat Daya district police chief Supt Kamarul Rizal Jenal said the 36-year-old man was detained following a report lodged by the 44-year-old victim filed a police report in Bayan Baru.

"The victim claimed the syndicate offered a Bitcoin investment of 200 per cent profit per year, but did not get any returns.

"The victim claimed to have several transactions online to different bank accounts including that of the suspect between July 11 and August 10 this year involving a total amount of RM129,970,” said Kamarul Rizal when contacted by Bernama today.

He said the investigation was being carried out under Section 420 of the Penal Code for cheating. — Bernama