Huo Xing Finance reports, according to Malaysian media, the Kuala Lumpur High Court has ruled that the government must return a total of 497.82 bitcoins to nine victims of an investment scam. Valued at 2023 prices, this amount of bitcoin is approximately $17.6 million. The court found that between 2015 and 2016, the nine victims were deceived by Fadino Khairuman and Asyran Ismail into depositing a combined 362.04 bitcoins into the Bitkingdom wallet, after being promised daily returns of 1%. The bitcoins were subsequently transferred to wallets under the defendants’ names and eventually seized by law enforcement. The judge noted that the involved bitcoins underwent multiple transactions and a layering process, but the victims did not lend bitcoins to the defendants—they lost their assets due to fraud and therefore hold legitimate claims to the seized assets. The court ruled that the 497.82 bitcoins should be distributed among the victims in proportion to their initial investments, with each receiving between 0.68% and 11.7% of the total amount.
Kuala Lumpur Court Orders Return of 497.82 BTC to Nine Fraud Victims
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Summary
A Kuala Lumpur court has ordered the return of 497.82 BTC, valued at approximately $17.6 million in 2023, to nine victims of a 2015–2016 investment fraud. The victims were deceived into depositing 362.04 BTC into the Bitkingdom wallet by Fadino Khairuman and Asyran Ismail, who promised daily returns of 1%. Authorities later seized the funds. The judge ruled that the victims are not lenders but victims of fraud, granting them legal claim to the assets. The BTC will be returned proportionally based on their initial investments, ranging from 0.68% to 11.7%. The ruling supports CFT efforts to recover assets from financial crimes. As BTC continues to be viewed as a hedge against inflation, this case underscores its growing role in legal and financial systems.
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