According to Odaily, Malaysian law enforcement recently arrested ten individuals suspected of using cryptocurrency for money laundering. Assets worth over $7.7 million, including cars, were seized, and bank accounts holding approximately $10.8 million were frozen.
The authorities confiscated luxury items worth more than $3.9 million, including branded watches, 18 luxury cars, motorcycles, and handbags, as well as cash amounting to $106,800. The Malaysian Police Chief, Tan Sri Razarudin Husain, revealed that the arrested individuals, eight men and two women aged between 28 and 51, used unregistered currency exchanges and cryptocurrency exchanges to transfer funds from illegal activities abroad to Malaysia.
These individuals have been detained under Malaysia's Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act Section 4(1).
