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Johor man who thought he made RM97m on crypto realises he just lost RM1.9m to scammers – Johor Bahru!

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Johor man who thought he made RM97m on crypto realises he just lost RM1.9m to scammers

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Malay Mail

KUALA LUMPUR, March 21 — A 69-year-old local plantation manager in Johor lost RM1.9 million in a non-existent cryptocurrency investment scam.

Johor police confirmed receiving a report from the victim, who was deceived by an unknown individual via WhatsApp.

“The victim was instructed to download an investment app before engaging in cryptocurrency trading,” said Johor Police Chief Datuk M. Kumar.

Believing promises of returns between 20 and 40 per cent, the victim followed the suspect’s instructions and transferred funds.

The victim’s phone number was later added to a WhatsApp group where further investment directives were given.

Between December 2024 and February 2025, the victim deposited RM1.9 million into several bank accounts as instructed.

Realising he was unable to withdraw the supposed US$22.2 million (RM97 million) profit, the victim lodged a police report.

Authorities are investigating under Section 420 of the Penal Code and urge the public to verify investment platforms before transferring funds.