Construction firm director loses RM26.6mil in crypto scam

The Star

A construction company director holding the title of Datuk has lost RM26.6 million to a cryptocurrency investment scam, according to federal police.   Read more at https://tinyurl.com/vv6bxn3z   WATCH MORE: https://thestartv.com/c/news  SUBSCRIBE: https://cutt.ly/TheStar  LIKE: https://fb.com/TheStarOnline

Transcript

00:00The third issue that is of interest is the fraud of investment involving losses of 26.7 million ringgit.

00:0826.7 million ringgit.

00:12On 20 February 2025, yesterday, a police report was made at Brickfields, Kuala Lumpur,

00:20by a 74-year-old man who claimed to be the victim of a cryptocurrency investment scheme

00:29that was offered through the UVKXE application.

00:34This is a lot, right?

00:36The victim, who is a director of a construction company,

00:40stated that he had seen the investment advertisement

00:43after doing a search through Google.

00:4826 million ringgit.

00:50The victim then pressed the link that was included

00:54in the WhatsApp group called 12 Gathering Stocks Into Gold.

01:01The victim was taught about investment by an individual

01:05who called himself Professor Stanley Lim.

01:09In line with the promised profits,

01:13the victim downloaded the UVKXE application to start investing.

01:19So, if there is anyone out there who is dealing with a person

01:24called Professor Stanley Lim, stop them.

01:28And also stop all deals with the investment scheme known as UVKXE.

01:38From 17 October 2024 to 24 December 2024,

01:43the victim made nine money transfers to nine bank accounts

01:48registered under the names of different companies.

01:53The total amount of money transfers was 26,650,000 ringgit.

02:05Through his account, in January 2025,

02:09the victim found that his investment account had recorded profits

02:14up to USDT, crypto, 269 million, 247,000, 546 dollar, 68 cents.

02:29Up to almost 269 million USDT.

02:40However, when it came to withdrawing the profits,

02:44the victim was instructed to pay an additional 5.56 million

02:51on the basis of interest.

02:54Investigation is underway under Section 420 of the Penal Code.

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Transcript

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