14 Bitcoin fraudsters from China were arrested in Malaysia

by in Cryptocurrency News

Chinese fraudsters in Malaysia

Malaysian law enforcers have arrested Chinese attackers accused of cryptocurrency fraud. It is reported by the South China Morning Post.

Related: $22.000 to fraudsters: retiree tried to invest in bitcoin

According to police, the detainees pretended to be successful investors, and their victims were found mainly in China. To reinforce this legend, they created groups on WeChat and QQ to convince potential investors to invest.

The criminal scheme has operated for the past two months. The total number of victims and the amount of damage are still being established.

In total, 14 people were arrested in Malaysia. In addition to 10 years in prison for fraud, they also face a fine, up to 5 years in prison and up to six lashes for violating immigration laws.