Malaysian Doctor Lost $130K in Crypto Investment Scam: Police Warn of Rising Fraud Cases

Source: CryptoNewsNet Original Title: Malaysian doctor scammed out of $130K in crypto fraud Original Link: A medical specialist in Malaysia has suffered a significant loss as a result of investments in a fake cryptocurrency scheme. According to police reports, the elderly doctor was approached by someone claiming to help him generate profits from crypto investments, but ultimately became a scam victim.

How the Scam Unfolded

The 67-year-old victim received a message through social media from an acquaintance in late September 2025. The message contained an investment link, and the suspect subsequently explained how the investment worked. Through persuasive explanations, the suspect deceived the elderly victim into investing in a digital asset investment promising high returns.

The victim made several transfers to various bank accounts provided by the suspect, totaling approximately RM 320,000 ($78,000). The accounts were registered under different company names, adding to the illusion of legitimacy.

The Secondary Scam

Trouble started when the victim attempted to withdraw his promised profits. After realizing he had been scammed, he sought help through a Facebook page claiming to assist scam victims. He contacted a lawyer who offered to help recover his funds but required various payments to “kickstart the recovery process.”

The victim made additional payments totaling RM 209,200 ($51,635) to this lawyer. Eventually, he realized the lawyer was not actually working on his case and was only using him for financial gain. The total losses reached approximately RM 529,200 ($130,000).

Police Investigation and Public Warning

After losing trust in the lawyer, the victim contacted the police. The case has been registered and is being investigated under cheating laws. Police are gathering information to apprehend the suspects involved.

Authorities have warned the general public to be cautious with crypto dealings. This is not an isolated incident—in June 2025, a retired doctor discovered he had been scammed after 11 years, losing RM 3.9 million ($962,606) to a nonexistent crypto investment.

Police note that criminals are increasingly targeting elderly individuals due to their perceived lack of familiarity with digital assets and investment schemes. Citizens who suspect they have been scammed are urged to report the matter to authorities immediately.