Perak Man Loses About $3.05 Million in Suspected Crypto Wallet Hack

A man in Malaysia’s Perak state lost about $3.05 million in crypto assets after discovering unauthorized transfers Oct. 9, with investigators tracing the funds through blockchain networks.

The assets were valued at approximately 12.47 million ringgit. Initial findings showed that the transactions moved through blockchain networks.

The Commercial Crime Investigation Department’s cryptocurrency unit is working to trace the funds and identify those involved. The case is being investigated under Section 420 of Malaysia’s Penal Code, which covers cheating.

The specific attack method has not been disclosed.