Malaysian police dismantle fake crypto trading platform pig butchering scam gang, arrest 13 foreign suspects.

BlockBeats news, November 5 - Malaysia's national news agency Bernama reported that Malacca police raided a residence in Kota Shahbandar yesterday, arresting 13 foreign suspects and dismantling a cyber fraud gang involved in "pig butchering" scams and fictitious cryptocurrency trading platforms, arresting 13 foreign suspects.

Halim Abas, director of the Malacca Central Police District, stated that the gang used applications such as Telegram, QQ, and Soul to lure Chinese victims with sweet talk and demanded they transfer funds in purported high-return crypto trades. Preliminary investigations show that members entered the country by air from the Philippines, Taiwan region, Laos, and China on tourist visas between February and September last year, and began operating at the location about three months ago. Police seized 12 laptops, 1 desktop computer, 26 mobile phones, and a router, valued at approximately RM50,000. The suspects have been remanded until November 8 to assist in the investigation, and the total losses of victims are still being verified.