Malaysian police arrested 13 suspects in Melaka on Wednesday, Nov. 4, alleging they used a fake cryptocurrency exchange in a romance scam targeting Chinese victims.
Police said the suspects contacted victims through Telegram, QQ and Soul. They allegedly used emotional relationships and promises of high returns to persuade victims to transfer money for cryptocurrency trades through the fake exchange.
The group began operating at the site about three months before the arrests.
Police seized 12 laptops, one desktop computer and 26 mobile phones. The total losses suffered by victims remain under investigation.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to [email protected].
