A construction company director holding the title of Datuk has lost RM26.6 million to a cryptocurrency investment scam, according to federal police.
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NewsTranscript
00:00The third issue that is of interest is the fraud of investment involving losses of 26.7 million ringgit.
00:0826.7 million ringgit.
00:12On 20 February 2025, yesterday, a police report was made at Brickfields, Kuala Lumpur,
00:20by a 74-year-old man who claimed to be the victim of a cryptocurrency investment scheme
00:29that was offered through the UVKXE application.
00:34This is a lot, right?
00:36The victim, who is a director of a construction company,
00:40stated that he had seen the investment advertisement
00:43after doing a search through Google.
00:4826 million ringgit.
00:50The victim then pressed the link that was included
00:54in the WhatsApp group called 12 Gathering Stocks Into Gold.
01:01The victim was taught about investment by an individual
01:05who called himself Professor Stanley Lim.
01:09In line with the promised profits,
01:13the victim downloaded the UVKXE application to start investing.
01:19So, if there is anyone out there who is dealing with a person
01:24called Professor Stanley Lim, stop them.
01:28And also stop all deals with the investment scheme known as UVKXE.
01:38From 17 October 2024 to 24 December 2024,
01:43the victim made nine money transfers to nine bank accounts
01:48registered under the names of different companies.
01:53The total amount of money transfers was 26,650,000 ringgit.
02:05Through his account, in January 2025,
02:09the victim found that his investment account had recorded profits
02:14up to USDT, crypto, 269 million, 247,000, 546 dollar, 68 cents.
02:29Up to almost 269 million USDT.
02:40However, when it came to withdrawing the profits,
02:44the victim was instructed to pay an additional 5.56 million
02:51on the basis of interest.
02:54Investigation is underway under Section 420 of the Penal Code.