Malaysian crypto investor loses $3 million in suspected theft

• A Malaysian man reportedly lost about US$3 million in a suspected cryptocurrency wallet compromise.
• The incident highlights the financial risks associated with unauthorised access to digital asset wallets.
• The reported loss remains subject to confirmation as investigators establish what happened.

A 38-year-old man has lost RM12.47 million in suspected cryptocurrency theft after unauthorised transfers from his digital wallet, according to Bernama, Malaysia’s national news agency.

The victim discovered the unauthorised transfers at about 1pm on 9 October while in Teluk Intan, Perak.

“Preliminary investigation found that the transaction involved the transfer of crypto assets through a blockchain network,” Perak police chief Datuk Mohd Alwi Zainal Abidin said in a statement.

Police are investigating the case under Section 420 of Malaysia’s Penal Code, which covers cheating and dishonestly inducing the delivery of property.

Investigators are tracing the transactions with assistance from the Royal Malaysia Police’s Bukit Aman Commercial Crime Investigation Department Crypto Unit.

The investigation aims to identify those responsible and track the movement of the transferred cryptocurrency across the blockchain network.

Police advised cryptocurrency users to monitor wallet activity, avoid suspicious links and strengthen account security to reduce exposure to phishing and online scams.

The case highlights the financial risks of unauthorised wallet access as Malaysian police work to trace the missing digital assets.