Police identify cryptocurrency investment syndicate using online platform

KUALA LUMPUR: Police have identified the digital or cryptocurrency investment syndicate using the M2DCoin platform.

Bukit Aman Commercial Crime Investigation Department (JSJK) director Datuk Zainuddin Yaacob said investigations found that the M2DCoin platform was a foreign digital exchanger website that is hosted in Arizona, United States.

According to him, the website which has been in operation for the past nine months does not have a licence to conduct cryptocurrency operations from any country.

He said checks found that the website is now no longer accessible.

“Investigations also revealed that investors will be contacted through the WhatsApp application and offered to participate in investments that promise lucrative returns.

“Interested investors will be given access the M2DCoin platform to facilitate their investments. They are also required to make payments to a middleman appointed to manage their investments,” he said in a statement yesterday.

Zainuddin said so far, police have received one report on cryptocurrency investment.

He also urged victims or those with information on the investment to come forward and lodge a report so that police could launch an investigation into the matter and take further action.

-- BERNAMA