SINGAPORE — A 46-year-old man is set to be charged in Singapore after allegedly extorting more than S$200,000 (RM655,000) in cryptocurrency and restraining a victim with cable ties in a hotel room, AsiaOne reported.

The Singapore Police Force (SPF) said a woman had alerted them on Thursday after receiving a request from a male friend to transfer cryptocurrency through a QR code. He claimed the money was for another friend in need. 

She complied, transferring more than S$78,000, but later suspected something was amiss and made a police report.

According to the Singapore-based digital news company, investigators from the Woodlands Police Division launched what the SPF described as “extensive ground enquiries and follow-up investigations”, identifying the suspect and arresting him at Changi Airport Terminal 1 within eight hours.

Preliminary inquiries revealed that the man had allegedly restrained another male victim at a Coleman Street hotel using cable ties before extorting over S$200,000 in cryptocurrency. Police said the stolen funds were recovered. The victim, who sustained injuries, was taken to hospital conscious.

The suspect will be charged under Section 384 of the Penal Code for extortion. If convicted, he faces between two and seven years in prison and caning.