Ipoh: A 45-year-old businessman has reportedly lost RM1.25 million in a cryptocurrency investment scam. Perak police chief Datuk Mohd Alwi Zainal Abidin revealed that the case came to light after the victim lodged a complaint with the Commercial Crime Investigation Division at the Ipoh district police headquarters on July 10. According to BERNAMA News Agency, initial investigations indicated that the victim was approached by several individuals who presented the cryptocurrency investment as a promising opportunity, assuring significant returns. These individuals also conducted multiple information sessions to persuade the businessman to commit to the investment. The businessman proceeded to make several digital asset transfers to a specified digital wallet between March 28 and April 17, 2025, following the instructions given by the suspect. Despite the assurances, the victim did not receive the promised returns and was unable to retrieve his initial investment. The incident is currently being investigated under Section 420 of the Penal Code, which deals with fraud. Mohd Alwi advises the public to always be wary of any offers that promise extraordinary profits or unreasonable fixed returns, before making any investments.General/CT#