RM200,000 Crypto Scam Leaves Chef Empty Handed

A cryptocurrency investment opportunity has cost a Malaysian chef more than RM200,000 after he was allegedly manipulated into making repeated financial transfers to accounts controlled by a suspected scammer.

The victim, a man in his 50s from Ampang, Selangor, reportedly became acquainted with the suspect through a smartphone application in September last year. It was reported that the individual subsequently approached the victim at his residence and persuaded him to participate in a cryptocurrency investment opportunity.

Convinced by the proposal, the chef downloaded an application supplied by the suspect, which was purportedly intended to facilitate investment transactions. What initially appeared to be an opportunity to generate returns from the cryptocurrency market soon developed into a series of financial commitments, with the victim making multiple transfers to bank accounts provided by the individual.

The alleged deception continued as the suspect repeatedly encouraged the victim to inject additional funds into the investment. Rather than receiving evidence of legitimate investment activity or the anticipated financial gains, the chef continued transferring money, with his final payment reportedly made in June this year.

The arrangement eventually reached a critical point when the suspect allegedly promised that the victim's investment capital would be returned in August. However, the promised repayment never materialised, leaving the chef without access to his original investment or the returns he had been led to expect.

After realising that he may have fallen victim to an investment scam, the man lodged a police report at the Ampang police station on 8th November 2026.