JOHOR BARU, Dec 14 — A housewife fell prey to an online Bitcoin investment scheme that promised lucrative returns and suffered a loss of RM752,398.
Acting Seri Alam District police chief, DSP Dr Mohd Roslan Mohd Tahir said the 47-year-old woman lodged a report yesterday, claiming to have been scammed.
He explained that the victim was enticed to join the scheme through a Facebook advertisement in late August by clicking on a link in the advertisement to obtain more information about the investment.
She was subsequently added to a group called ‘VIP Investment Group (Malaysia)’ and briefed by several individuals about the scheme, which promised substantial returns within a month.
“The victim downloaded the ‘UVKXE’ application to monitor her Bitcoin investments and view the profits generated. Attracted by the promising returns, she made 12 transfers to seven different bank accounts, amounting to a total of RM896,813,” he said.
“The victim observed a profit of USDT185,838 in the UVKXE application and attempted to withdraw the funds. However, she was only paid RM144,415. For subsequent withdrawals, she was instructed to pay one percent of the profit as a fee.
“Realising she had been scammed, she lodged a police report,” he said in a statement today.
Mohd Roslan added that the case is being investigated under Section 420 of the Penal Code, which carries a maximum penalty of 10 years imprisonment, caning, and liable to a fine upon conviction.
He also stated that the investigation would cover the involvement of mule accounts under Section 424 of the Penal Code, which provides for a maximum fine of RM100,000, imprisonment of up to seven years, or both.
Mohd Roslan advised the public not to be easily swayed by such investment schemes that promise quick and high returns. — Bernama
