Malaysia arrests 12 police officers for extorting $51K in crypto

Malaysian authorities have arrested 12 local police officers on charges of extorting approximately $51,000 worth of cryptocurrency in Kuala Lumpur. According to The Block, the officers raided a residential area, confiscated mobile phones and laptops from multiple Chinese nationals, and forced them to transfer the cryptocurrency. The authorities are treating the incident as an organized cryptocurrency robbery targeting foreigners, emphasizing that there will be no compromise with any police officers involved in criminal activity.