OJK investigates allegations of crypto fraud involving Timothy Ronald.

OJK is examining reports of alleged crypto signal fraud by Manta that has caused billions of rupiah in losses for investors.

JAKARTA - The Financial Services Authority (OJK) has spoken out regarding allegations of crypto investment fraud involving influencer Timothy Ronald.

In a report received by OJK, as quoted by Detik.com, victims claim to have received recommendations to buy manta coins with promises of profits of 300–500% by early 2024.

The Executive Head of the Financial Services Authority's Business Behavior Supervisory, Education, and Consumer Protection, Friderica Widyasari Dewi, stated that they have received the report.

However, she has not yet disclosed the details of the report, as it is still under investigation.

"Currently, the report has reached us and we are delving into it," said Friderica to reporters at the Maramis Building in Jakarta, Wednesday (21/1).

She added that the investigation process will continue with further examination and review. OJK promises to communicate the results of the investigation to the public after the inquiry is complete.

"We cannot share the information right now. However, once it is possible, we will convey it at the first opportunity," said Friderica.

The alleged fraud was reported by a man with the initials Y. Based on a post from the @cryptoholic account that contained a copy of the police report, the victim claims to have received guidance from Timothy Ronald to buy manta coins with promises of significant price increases.

In the report, the amount of investment funds used by the reporter to purchase manta coins reached Rp3 billion.

$MANTA #timotyronald