Jakarta. Jakarta Metropolitan Police have arrested two suspects in an international cryptocurrency fraud case that caused losses totaling Rp 18.3 billion (around $1.1 million). The suspects, identified as SP, an Indonesian national, and YCF, a Malaysian citizen, allegedly operated an online scam involving fake crypto assets and stock sales.

“This was an international online fraud syndicate, involving a suspect from Malaysia,” Police spokesperson Ade Ary Syam Indradi said during a press conference on Friday.

According to Jakarta Police Cybercrime Director Roberto GM Pasaribu, the suspects ran a fictitious investment scheme using online platforms. The fraudulent operation involved the creation and sale of fake digital assets.

“The suspects used an application to simulate fake crypto and stock transactions. This is what we categorize as computer-assisted crime or online scamming,” Roberto explained.

Police said at least six victims were identified within the Jakarta Metropolitan jurisdiction, with additional victims in East Java and Yogyakarta.

“The total financial loss suffered by the victims so far is Rp 18 billion,” Roberto added.

The criminal operation was reportedly carried out while the suspects were in Malaysia. Jakarta Police are now working with the National Police’s International Relations Division (Hubinter) and Interpol to pursue further investigation and possible cross-border action.