Selangor police chief Hussein Omar Khan said the 77-year-old man was enticed by an offer related to cryptocurrency investment when he saw an advertisement on Facebook last August.

“The victim contacted a person via WhatsApp to join the investment scheme and registered through a link given to him.

“The victim then deposited cash totalling RM2,118,810 into 11 different accounts, in separate transactions, after being promised lucrative returns,” he said in a statement today.

Hussein said that despite banking in the money, the victim did not receive any of the promised returns. He was told to pay taxes amounting to RM1.2 million to withdraw the “profits” from the platform.

“The suspect then realised he had been scammed and lodged a police report in Kajang,” he said.

Hussein advised the public not to be easily influenced by investment offers on social media that promised unreasonable returns, particularly through apps not approved by Bank Negara Malaysia or the Securities Commission Malaysia.