A 67-year-old Malaysian physician lost over one hundred and thirty thousand dollars in a cryptocurrency scheme that was a scam on the TikTok platform, and was then topped off with a fake recovery service
A top medical practitioner in Ipoh has been the most recent victim of advanced cryptocurrency fraud. The older doctor, 67 years old, had lost RM529,200 in a two-layered scheme.
The victim was assigned an investment connection through TikTok in late September 2025, according to Malaymail. The opportunity was publicized by an acquaintance with high returns. The physician then moved RM320,000 through numerous bank accounts.
When Profits Vanished Into Thin Air
The incident was confirmed by Perak Police Chief Datuk Noor Hisam Nordin. The victim had attempted to pull his promised income, but the money was blocked altogether. The reality hit its nail on the head, and panic struck.
The doctor was desperate and decided to resort to Facebook. He encountered International Justice Malaysia, which said it helps victims of scams. He was soon approached by a man who pretended to be a lawyer.
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The Second Trap Closes
The fraudulent attorney insisted on recovery payments of different kinds. The trusting victim handed over another RM209,200 in the hope that he would restore his money. Doubts were raised concerning the authenticity of this operation.
The overall financial cost amounted to RM529,200, or about 130,000 dollars. It was only yesterday that the doctor made a police report. The police are investigating under 420 of the Penal Code.
This case reminds a June 2025 case of another retired doctor losing RM3.9 million in 11 years to such schemes. The aged citizens are particularly targeted by criminals due to their vulnerability.
Police stress that this group of fraudsters takes advantage of the low level of digital literacy among the elderly. The plots look valid, and the recovery frauds insult desperate victims via social media.
Governments are encouraging citizens to check the legitimacy of investment. Any person who suspects fraud must report it to law enforcement. Criminals keep advancing their methods to take advantage of innocent victims.
The investigation is ongoing, with the police collecting evidence against both suspects. Transaction records and bank account details are under analysis. Police want to prevent such cases by educating the population.
Source: https://www.livebitcoinnews.com/elderly-doctor-loses-130k-in-tiktok-crypto-trap/
