Bistro owner loses RM370,000 to crypto investment scam

A bistro owner in his 40s lodged a police report last Friday claiming the loss of some RM370,000 to a cryptocurrency investment scam.

Sarawak Police Commissioner Datuk Mancha Ata said the victim was introduced to the ‘Sat Coin’ investment called in October 2021.

“The suspect told the victim that he would get a fixed profit of 10 per cent each month and his capital would be returned within a year.

“The suspect also offered the victim two investment packages worth US$30,000 and US$10,000, and the victim made a total of 16 online transactions to three of the suspect’s account and a company’s account totalling RM370,000 between October 2021 and April 2022,” he said in a statement yesterday.

Mancha said the victim was also given a website account called ‘Restart’ to track his investment.

The victim only realised he had been scammed after failing to gain access into the ‘Restart’ website, with his account blocked since May 2022, and unable to contact the suspect, he added.

The case is currently being investigated under Section 420 of the Penal Code for cheating.

In this regard, Mancha advised the public to not easily believe in investment schemes that promise lucrative returns within a short period of time.

He also warned the public against downloading any android package kit (APK) from untrusted sources, and urged them to only invest on platforms that are registered with Bank Negara Malaysia and the Securities Commission.

“The public should immediately call the National Scam Response Centre on 997 if they feel that they have been scammed,” he said.

The suspect told the victim that he would get a fixed profit of 10 per cent each month and his capital would be returned within a year.

Datuk Mancha Ata