JOHOR BARU: A company director’s maiden venture into cryptocurrency grew by more than 700% to about RM6mil in just three days – only for him to discover that it was a scam.

The man, in his 40s, not only lost his purported profits but also his RM800,000 capital after “investing” in the scheme.

A police official said the incident began when the victim befriended a man on social media who claimed that his company was launching a new cryptocurrency and looking for investors in late July.

“Initially, the victim was not interested, but the broker managed to entice him with promises of huge profits within a short period.

“The director then transferred…