Police arrested nine local men on suspicion of being involved in a cryptocurrency investment fraud syndicate, resulting in losses amounting to about RM2.8 million, in several raids in Penang, Selangor and Kuala Lumpur on Wednesday .
“The investment capital uses cryptocurrencies, like Bitcoin and USDT, and investors are exposed to investing through face-to-face seminars or ‘Zoom’ meetings. “All the suspects have been remanded under Section 117 of the Criminal Procedure Code and investigations are conducted in accordance with Section 420 of the Penal Code as well as actions under POCA and AMLA will also be taken,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: