The Malaysian police dismantled a gang suspected of using a fake cryptocurrency exchange to commit fraud, arresting 13 people

According to the New Straits Times citing Bernama, Malaysian police dismantled a gang suspected of conducting romance scams and fraudulent cryptocurrency exchange schemes in Malacca on November 4, arresting 13 suspects aged between 24 and 36.

The police stated that the gang contacted Chinese victims through applications such as Telegram, QQ, and Soul, luring them into transferring money to participate in fake cryptocurrency transactions with promises of emotional relationships and high returns. They began operating at the location involved about three months ago. The total losses incurred by the victims are still under investigation, and the police have seized 12 laptops, 1 desktop computer, and 26 mobile phones among other devices.