IPOH: A private interpreter in Taiping suffered RM572,130 in losses after being deceived by a syndicate operating a non-existent cryptocurrency investment scam online since August.
Taiping police chief Assistant Commissioner Mohamad Nasir Ismail said a report was received from the victim, a woman in her 40s, at 4.19pm yesterday.
Preliminary investigations showed that the victim was contacted by an individual who identified himself as a Chinese national named “Yang Yuting” via Instagram on Aug 10, before moving their conversation to WhatsApp.
“The suspect informed the victim that he was investing in a certain cryptocurrency (name unknown) that promised high returns of 20 percent.
“After listening to the suspect’s explanation, the victim became interested and agreed to participate,” he said in a statement today.
Nasir said that the suspect then sent a link (https://ethiax.bdygx.com) with instructions on how to invest.
“The victim was asked to make an initial investment of RM8,740. On Aug 22, she proceeded to transfer that amount online to a company account and received a return of RM9,595.
“Seeing the lucrative returns, the victim then increased her investments significantly between Aug 26 and Sept 5, 2025, via 12 online transfers to nine different accounts, totalling RM572,130.00,” he said, adding that after she had completed the transactions, the suspect demanded further deposits.
When she could not provide more funds, she was instructed to secure a bank loan. Realising she had been defrauded, she refused to do so and filed a police report.
The case is being investigated under Section 420 of the Penal Code for cheating.
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