Indonesian Police Probe Alleged Crypto Investment Scam Linked to Influencers

Indonesia's Metro Jaya Police have begun investigating an alleged cryptocurrency investment fraud following a formal complaint filed by a victim identified as Younger, also known as Y. The case has drawn public attention due to its alleged links to influencers identified by the initials TR and K.

Accompanied by legal counsel, the victim submitted evidence to police on Tuesday, including transaction records, referral codes, video materials, and digital files that allegedly show promotional messages and promises of unusually high returns. According to the complaint, the scheme promoted potential profits ranging from 300% to 500%.

Younger's lawyer, Jajang, said the victim decided to report the case after suffering financial losses approaching IDR 3 billion, stating that the aim was not only to seek justice but also to prevent similar schemes from targeting younger audiences.

According to the victim's account, the alleged scheme began after he encountered content posted by TR on Instagram. The displays of luxury lifestyles, which were claimed to be funded by rapid crypto trading gains, reportedly influenced the victim's decision to participate.

The victim said he subsequently purchased membership packages offered by the alleged promoters, with prices ranging from IDR 9 million to IDR 50 million. These memberships were presented as a gateway to high-yield crypto investments.

One of the investment narratives involved a cryptocurrency referred to as Manta, with claims that an initial investment of IDR 2 million could grow to IDR 2 billion. Promised returns of 300% to 500% were cited as a major factor in attracting participants who may not have fully understood the risks involved.

Jajang said he suspects the reported individuals lacked the necessary qualifications or certifications to provide investment guidance, which he described as a central issue in the alleged fraud.

Metro Jaya Police confirmed that the case is under review. Investigators said the alleged activities took place through a Discord group, which functioned as the primary communication channel between the suspects and participants.

Police spokesperson Kombes Pol Budi Hermanto said investigators would summon the complainant for clarification to establish a clearer timeline and verify the submitted evidence. Authorities will also analyze financial transactions, referral structures, and recorded materials to determine whether criminal elements are present.

The report has been formally registered with the Integrated Police Service Center (SPKT) of Metro Jaya Police. Officials said the investigation reflects broader efforts to address online investment fraud and protect the public from financial harm.