Malaysian police recently launched a significant law enforcement operation in Batu Gajah, Perak, successfully dismantling a call center suspected of utilizing fake cryptocurrency investment platforms to conduct transnational fraud. A total of 22 suspects were arrested on site, all verified as Chinese nationals. The Perak State Police Chief revealed during a press conference on April 9 that, acting on intelligence, police conducted a dawn raid on a homestay early on April 7, capturing 19 males and 3 females on the spot. Their ages ranged from 22 to 40 years old. During the operation, authorities seized a substantial amount of electronic equipment, including 35 mobile phones, 9 laptops, and a batch of network communication tools, with the total value of implicated items estimated at approximately 95,000 ringgit.

Investigators discovered the gang primarily operated a fake cryptocurrency investment platform named Pyxora Labs. They utilized encrypted messaging apps such as WhatsApp and Telegram to identify targets, specifically focusing on Italian citizens. Once victims expressed interest, criminals lured them with high-return projects, inducing investments through the platform. All fund transactions were completed using USDT, a stablecoin pegged to the US dollar. This seemingly legitimate platform was actually entirely manipulated by the fraud group's backend. It is reported that the gang commenced systematic operations at the aforementioned location in early February this year. Currently, police are collaborating with the Immigration Department to verify the entry records and visa statuses of these suspects who hold valid travel documents.

Regarding the subsequent handling of the case, police are conducting in-depth investigations into whether local personnel provided logistical support or cover, and whether a larger criminal network lies behind it. The case has been filed under Section 420 (Fraud) and Section 120B (Criminal Conspiracy) of the Penal Code. Upon conviction, suspects may face up to 10 years imprisonment, whipping, and fines. This case once again highlights a new variant of cross-border telecom fraud, commonly referred to as pig-butchering scams targeting foreigners. Criminal gangs base their operations in Southeast Asia to execute investment and romance fraud against overseas individuals via online channels. The public is reminded to remain highly vigilant regarding so-called investment tutors who contact them proactively via social media; actions involving transfers to unknown accounts or cryptocurrency wallets carry extremely high risks.