Malaysian police arrest 14 Chinese who run the bitcoin fraud line | Money Blog

According to a recent source, the Malaysian government has arrested 14 Chinese nationals for their involvement in cryptocurrency scams in the country.

These people run a sophisticated network of scams that cheat bitcoin investors. In addition, they violate Malaysia's Migration Act.

Police arrested them on April 18, after two months of surveillance, assistant commander Commander Dzulkhairi Mukhatar said.

All of the suspects are between the ages of 20 and 30, three of whom have no valid immigration documents.

Mukhatar added:

The group impersonates wealthy investors, whose goal is to target victims on popular Chinese messaging apps like WeChat and QQ. After reaching their prey, suspects will offer attractive returns to convince victims to invest

On charges of fraudsters face charges under the Malaysian Criminal Code for fraud, they can be imprisoned up to 10 years, fined.

Malaysian police are continuing to expand the investigation of victims and lost money.


Malaysian police arrest 14 Chinese who operate the bitcoin fraud line

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