Retiree cheated of RM525,000 in fake cryptocurrency investment after responding to Facebook advertisement

Retiree cheated of RM525,000 in fake cryptocurrency investment after responding to Facebook advertisement

KUALA TERENGGANU, Sept 29 — A 71-year-old retiree lost RM525,000 after falling prey to a syndicate running a fake cryptocurrency investment scheme.

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September 29, 2025

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KUALA TERENGGANU, Sept 29 — A 71-year-old retiree lost RM525,000 after falling prey to a syndicate running a fake cryptocurrency investment scheme.

District police chief ACP Azli Mohd Noor said the victim first encountered the investment advertisement on Facebook on May 23.

Persuaded by promises of a USD500,000 return, the retiree communicated with the suspect online and eventually transferred RM525,000 in seven transactions between Aug 20 and 27, using his retirement savings.

“The case is being investigated under Section 420 of the Penal Code,” Azli said in a statement today. — Bernama

A retiree lost RM525,000 after being deceived by a syndicate operating a non-existent cryptocurrency investment. — Max Pixel pic

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