Bukit Aman commercial CID deputy director (investigation) Rohaimi Isa said this was the single largest case of crypto-investment fraud in Malaysia.

“The 60-year-old man lodged a police report on Jan 30 at a police station in Sentul, following which police launched an investigation for cheating under Section 420 of the Penal Code,” he said today.

Rohaimi said the police had received 124 reports from victims of investment fraud nationwide, with losses approaching RM90.4 million, since last November.

He said the police had since identified 73 companies, 83 bank accounts belonging to companies and businesses, and one individual bank account used in this fraud.

He advised anyone still using the CCERX scheme to stop at once and file a police report, while people who want to invest in cryptocurrency transactions should check the legitimacy of the service before doing so.