Malaysia Police Investigate $3.05M Crypto Wallet Hack

Malaysian police have launched a criminal investigation into a suspected cryptocurrency wallet hack after a man in Teluk Intan reported losing approximately RM12.47 million, equivalent to $3.05 million, in digital assets through transactions he did not authorize.

According to reports from national news agency Bernama and public broadcaster RTM, the victim discovered the missing funds at approximately 1 p.m. on October 9. Perak police chief Mohd Alwi Zainal Abidin confirmed that the initial examination established the missing assets had been transferred through a blockchain network without the owner's knowledge or permission.

Investigation Underway

Perak police have enlisted specialists from the Bukit Aman Commercial Crime Investigation Department's cryptocurrency unit to trace the relevant transfers across the blockchain. Authorities opened the formal investigation under Section 420 of Malaysia's Penal Code, which addresses criminal cheating and can carry penalties ranging from one to 10 years in prison, whipping, and a fine.

Investigators have not yet identified the suspected attacker, the compromised wallet type, the specific cryptocurrencies stolen, or the technical intrusion method used. Officials noted that no cryptocurrency freeze, seizure, or recovery has been confirmed, and no arrests or formal charges have been announced.

Security Recommendations

Amid the ongoing investigation, Perak police issued cybersecurity guidance advising holders to protect private keys, recovery phrases, and passwords. Authorities warned users against opening suspicious links or sharing sensitive account information, while recommending the separation of long-term storage wallets from everyday accounts.

Key facts

• A victim in Teluk Intan reported unauthorized crypto transfers totaling approximately RM12.47 million ($3.05 million).
• The missing assets were discovered at approximately 1 p.m. on October 9.
• Perak police are investigating the case under Section 420 of Malaysia's Penal Code for cheating.
• The Bukit Aman commercial crime cryptocurrency unit is assisting in tracing the blockchain transactions.