Cross-Border Crypto Scam Syndicate Uncovered, Victims' Money Flowed to Malaysia and Vietnam
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- Polda Jawa Timur menangkap tiga warga negara Indonesia yang berperan sebagai penyedia perusahaan cangkang dan rekening penampung dana penipuan investasi kripto.
- Penyidik menyita Rp81,5 miliar dari 77 rekening dan menemukan jejak transaksi Rp3,19 triliun pada enam rekening sebuah perusahaan fiktif.
- Polisi memburu otak sindikat yang diduga bersembunyi di Malaysia dan Vietnam, sementara korban terus berjatuhan dengan kerugian sementara Rp12,93 miliar.
The Cyber Crime Directorate of the East Java Regional Police has uncovered an investment fraud syndicate posing as stock and cryptocurrency trading, controlled from Malaysia and Vietnam. Three Indonesian citizens were arrested for their role in building the criminal infrastructure, namely shell companies and bank accounts to hold victims' funds. To date, investigators have blocked and seized Rp81.5 billion from 77 accounts believed to be linked to the case.
The case came to light after seven police reports were filed between January and April 2026. The complainants said they lost a total of Rp12.93 billion. East Java Police Chief Insp. Gen. Nanang Avianto said the number of victims could still grow as the investigation continues. "This case began with 7 police reports, and the total temporary loss suffered by victims is Rp12,931,082,935," he said at the East Java Police Headquarters on Thursday (24/9).
The modus operandi was layered and targeted productive-age groups as well as retirees. Victims were first lured by investment ads on social media promising returns of 30 to 200 percent with no risk. Once hooked, they were placed in chat groups and guided by figures claiming to be professionals. Trading training sessions were held every night to build trust. Victims were then directed to download illegal applications such as YWWSDC, INVESCOS, and CANTVR, and to deposit funds into accounts of fictitious companies.
Director of Cyber Crime at the East Java Police, Sr. Comr. Bimo Ariyanto, revealed that victims initially saw their profit balances surge in the app. But when they tried to withdraw the funds, the system refused, claiming the victims had violated the rules. "Victims were deemed to have committed a violation and were required to pay a fine. If not, they were threatened with being reported to the authorities," Bimo said. The threats left victims even more trapped and afraid to report.
The network was controlled from abroad. According to investigators, KPP sent more than 10 mobile phones with internet banking accounts and crypto exchange apps such as Indodax, Pintu, and Binance already installed to Kuala Lumpur. Meanwhile, WH sent more than 25 mobile phones along with 150 banking and crypto exchanger accounts to Vietnam. FM's role was to prepare companies and accounts under legal entity names, for a fee of Rp60 million per company. This pattern shows a shift by cybercrime syndicates toward using shell companies and crypto assets to obscure the trail of funds.
"We urge the public to always be wary of investment or business offers with unreasonably large profits. Examine and verify the profile of the company and the application used," said Sr. Comr. Bimo.
A victim from Surabaya, Thomas Susanto, said he lost Rp303 million. The retiree said he had observed the investment group for one to two months before depositing funds. "The analysis was really good, so we saw this as a fairly good profit. He promised 30 to 200 percent. As a human being, I fell for it," he said. He only realized later that the profit figures in the app were merely fictitious data that could not be withdrawn.
The East Java Police are now coordinating with the Financial Transaction Reports and Analysis Center (PPATK) to trace the flow of funds and assets from money laundering. The International Relations Division of the Indonesian National Police is also involved to hunt down perpetrators abroad. The suspects are charged under stacked articles of the Electronic Information and Transactions Law and the money laundering law, facing a maximum sentence of 15 years in prison and a fine of up to Rp5 billion.
This case is a reminder that crypto-based fraudulent investments are increasingly sophisticated and cross-jurisdictional. For Indonesians, the call to verify a company's legality through OJK or the police is not merely a formality. Going forward, the question is: how effective can cross-border law enforcement be in dismantling networks that hide behind shell companies and crypto wallets?
