Malaysian Police Bust Crypto Investment Fraud Call Center Targeting Japanese Citizens
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
The Royal Malaysian Police (PDRM) has dismantled a crypto investment fraud call center in Kuala Lumpur, which allegedly targeted Japanese citizens.
The bust occurred on August 19, following coordinated raids on two upscale residential properties in the capital, according to a report from The Edge Malaysia.
During the operation, 21 individuals, ranging in age from 22 to 37, were arrested.
The group consisted of a Malaysian man, 16 Chinese nationals, including one woman, a Laotian woman, and one man each from Hong Kong and Myanmar.
According to Datuk Seri Ramli Mohamed Yoosuf, Director of the Bukit Aman Commercial Crime Investigation Department (CCID), the foreign suspects were employed as customer service representatives.
On the other hand, the local man was identified as the caretaker of the call center.
“The call center had been operational for only a month. The syndicate operated out of luxury bungalows, surrounded by high-security fences and located far from main roads, to avoid detection,” Ramli revealed during a press conference at Menara KPJ.
The fraudulent scheme involved luring victims through social media platforms such as Tinder and Monsters.
Once contact was established, victims were persuaded to invest using the Bitbank and CoinCheck applications.
The investigation also uncovered that the syndicate members had entered Malaysia on social visit passes and were paid commissions equivalent to 20% of the defrauded sums.
In addition to the arrests, police confiscated 17 computer systems, 55 mobile phones, a router, a set of
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