By Zaki MS
TELUK INTAN – A 38-year-old man suffered an estimated loss of RM12.47 million after his cryptocurrency assets were transferred out of his digital wallet without his knowledge or authorisation.
Perak police chief Datuk Mohd Alwi Zainal Abidin said the incident was discovered at about 1 pm on October 9 while the victim was in the Teluk Intan area.
He said preliminary investigations found that the transactions involved the transfer of cryptocurrency assets through a blockchain network.
Police are conducting further investigations to identify those involved and trace the flow of the transactions, with assistance from the Crypto Unit of the Commercial Crime Investigation Department (CCID) at Bukit Aman.
The case is being investigated under Section 420 of the Penal Code, which carries a prison sentence of between one and 10 years, whipping and a fine upon conviction.
He advised the public to remain vigilant against phishing and online scams and to avoid clicking on suspicious links.
Cryptocurrency users were also reminded never to disclose their seed phrases, private keys or passwords to any party.
They were advised to monitor their digital wallet transaction records and connected applications regularly, as well as separate their savings wallets from those used for daily transactions.
