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Malaysian police seize $323,000 in crypto in World Cup betting crackdown

Posted on by Admin VietNamGaming

01-10-2020 |  

Malaysian police have dismantled an alleged online betting syndicate linked to the 2026 FIFA World Cup after raiding an office in Kuala Lumpur, arresting 11 suspects and seizing cryptocurrency and cash believed to be connected to the operation.

The raid was carried out at around 11:30 am on July 9th by officers from the D7 anti-vice division of the Kuala Lumpur police contingent headquarters at an office on the eighth floor of a commercial building in Taman Desa.

According to Kuala Lumpur police chief Datuk Fadil Marsus, the syndicate is believed to have been masterminded by a Canadian national and was using the premises as a hub to promote and facilitate online betting on World Cup matches.

Police said the operation targeted bettors in South Korea, Japan and Hong Kong. During the raid, officers seized cryptocurrency credits valued at approximately $323,380, which investigators believe represented wagers placed on four FIFA World Cup 2026 semi-final matches. Police also confiscated MYR18,817 ($4,400) in cash.

Initial investigations found that the syndicate had rented the office for around six months but only began actively promoting and operating its betting business three months ago, allegedly in an effort to avoid detection. Authorities arrested 11 individuals, comprising six South Korean men, three Malaysian men and two Malaysian women.

One of the Malaysian women is believed to have managed the premises and assisted in promoting the World Cup betting operation. All suspects have been taken to Kuala Lumpur police headquarters for further investigation under Section 4(1)(e) of Malaysia’s Common Gaming Houses Act 1953.

Police said they remain committed to disrupting illegal betting operations, particularly during major sporting events such as the FIFA World Cup, when demand for sports wagering typically increases.

Source: AGBrief

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