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A M'sian Was Kidnapped And Killed In Manila Despite Ransom Amount Paid In Cryptocurrency

The money was transferred to the kidnappers via cryptocurrency exchange in USD.

Cover image via FMT Coinspeaker

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In a tragic incident, a Malaysian working in Manila, the Philippines was kidnapped and later found dead, despite a ransom of RM330,000 paid to suspects

Bukit Aman Commercial Crime Investigation Department (CCID) director Ramli Mohamed Yoosuf disclosed that the ransom was paid through a cryptocurrency wallet using the USDT application, the New Straits Times reported yesterday, 11 December.

However, on 23 October, a day after the kidnapping, the authorities in the Philippines received a report of a body discovered in San Simon, Pampanga, matching the description and tattoos of the kidnapped victim.

"In the report, the physical description and tattoo on the body matched the victim who was kidnapped," said Ramli during a CCID media conference in Kuala Lumpur.

This comes after the Malawakil Manila Attache office sought assistance from the CCID to track the suspects via the ransom transaction through crypto exchanges late last month on 9 November

The analysis successfully traced the cryptocurrency flow to an unregistered exchange in Malaysia, disclosing the identities of six foreign individuals who are currently under investigation, FMT reported.

Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf.

Image via New Straits Times

At the press conference, Ramli also highlighted a surge in cybercrime, with 10 police reports related to forex investments totalling RM4.7 million since November

Initial investigations suggest that the involved website operates from abroad.

"The victims who invested were promised lucrative returns and monthly dividends of 5% from their invested premium. The victims claimed they were confident of the investment plan through communication with the suspect via Zoom," explained Ramli.

Investigations by the CCID indicate that an international syndicate has been conducting suspicious transactions exceeding RM1 billion. Authorities are actively taking measures to address the issue and ensure justice for the victims.

Video of the press conference can be found below:

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