TELUK INTAN: A man has reportedly lost RM12.47 million worth of cryptocurrency after digital assets were transferred from his digital wallet without his knowledge or consent, according to Berita Harian report.

Perak police chief Datuk Mohd Alwi Zainal Abidin said the victim discovered the unauthorised transaction at about 1pm on Friday, October 9, while in Teluk Intan.

Initial investigations found that the transaction involved a blockchain network, with police working to trace the movement of the cryptocurrency and identify those responsible.

Mohd Alwi said investigators were receiving assistance from the commercial crime crypto unit at Bukit Aman to track the flow of the transactions.

The case is being investigated under Section 420 of the Penal Code for cheating.

Police have urged the public, particularly cryptocurrency investors and digital wallet users, to remain vigilant against phishing attacks and online scams.

Users have been advised against clicking on suspicious links or disclosing their seed phrases, private keys and passwords to other parties.

They should also regularly review their digital wallet transaction records and check applications linked to their accounts for any suspicious activity.

Anyone who suspects their device has been compromised should stop using it immediately, preserve relevant digital evidence, contact the platform provider through official channels and lodge a police report.

Police reiterated the importance of strengthening digital security practices as cybercrime threats continue to pose risks to individuals holding cryptocurrency and other digital assets.