Malaysian authorities have arrested 12 police officers on charges of extorting approximately 200,000 ringgit (equivalent to $51,000 USD) in crypto assets from a group of Chinese nationals during a midnight raid at a house near Kuala Lumpur, according to SCMP.
Selangor police chief, Mr. Shazeli Kahar, stated that the arrests were announced on Thursday after one of the eight victims—aged between 25 and 45—filed a complaint on February 6. Local media reported that the group claimed officers raided a bungalow in Kajang, a suburb of Kuala Lumpur, seized phones and laptops, and forced one victim to transfer digital assets to a specific crypto wallet address.
“We acted immediately and detained 12 police officers for investigation,” Mr. Kahar said, affirming that the case is being handled as an organized crime involving crypto assets of foreign nationals.
Mr. Kahar emphasized that the Selangor police “will not tolerate any officers or members involved in criminal activities,” highlighting the seriousness of the investigation.
The arrests occurred just days after Malaysia’s King, Sultan Ibrahim Sultan Iskandar, warned that corruption within government agencies remains under close scrutiny. On Monday, the monarch declared that individuals involved in corruption across various agencies, including the police force, are “within his radar,” and stressed: “Don’t think I don’t know anything. I also have my own intelligence system.”
The Malaysian government has also intensified its anti-corruption campaign since Prime Minister Anwar Ibrahim took office in 2022. In recent months, several senior officials and public figures have been prosecuted as part of a broader effort to curb abuse of power in the public sector.
Vương Tiễn
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Iran pays “Hormuz tolls” using Bitcoin! A fully loaded oil tanker trip costs $2 million
Reports say that Iran plans, during a U.S.-Iran ceasefire period, to require tankers transiting the Strait of Hormuz to pay a toll of $1 per barrel in Bitcoin and cryptocurrencies. The cost for a single trip could reach $2 million. A fully loaded tanker must declare its cargo and make payment with cryptocurrency, while also ensuring the transaction is not tracked. The move is intended to evade the risk of sanctions from the traditional financial system.
区块客2h ago
Drift hacked for $280 million—legal action! A U.S. law firm files a class-action lawsuit against Circle, alleging it allowed hackers to launder money without freezing funds
A U.S. law firm Gibbs Mura is launching an investigation into a class-action lawsuit regarding the April 1 Drift Protocol hack, alleging that stablecoin issuer USDC’s issuer Circle failed to freeze $230 million of the stolen funds. The firm will investigate Circle’s alleged double standards in the incident and its monitoring vulnerabilities. This case is expected to have a major impact on the legal liability of stablecoin issuers.
動區BlockTempo7h ago
“Sports Betting Contract” is a derivative! The U.S. CFTC blocks local law enforcement to fight for regulatory control of prediction markets
The U.S. federal government argues that sports event wagering should be treated as a financial derivative rather than gambling, and it seeks to bar Arizona from enforcing against Kalshi, the prediction market platform. If the court backs the federal position, prediction markets will operate under uniform nationwide regulation, weakening each state’s ability to regulate. This legal dispute concerns the legitimacy of prediction markets and the allocation of regulatory authority, affecting the future development of the industry.
区块客9h ago
Jiangsu Securities Regulatory Bureau warns about Hong Kong “fake exchanges” with fraudulent listings, reminding people to be vigilant against illegal fundraising involving pre-IPO shares
Gate News message, April 10, the Jiangsu Securities Regulatory Bureau issued a risk warning. Recently, some illegal intermediaries have used the gimmick of “getting listed on the Hong Kong Stock Exchange by knocking the gong” for a fee, offering services such as fake equity code and website public announcements. The relevant platforms are mostly “fake exchanges,” and they package the fake listing through forged ceremonies. Some companies take advantage of this to sell equity and pre-IPO shares to the public, which may involve illegal fundraising. Regulatory authorities remind investors: verify the qualifications of institutions through the official website of the Hong Kong Securities and Futures Commission, be wary of guaranteed-principal and high-yield promotions, do not transfer funds to individuals’ accounts or non-official platforms, and if you discover any leads, report and file a case promptly.
GateNews11h ago
Caixin: Polymarket’s use of USDC settlement creates legal risk for participants within China
The article discusses legal disputes involving Polymarket prediction markets, especially the unclear boundary between insider trading and gambling. It emphasizes that using USDC for settlement exposes Chinese participants to legal risk, and it mentions the “End Prediction Market Corruption Act” proposed by a U.S. senator, which prohibits certain government officials and their family members from participating in prediction market trading.
GateNews11h ago
