JAKARTA, Thekabarnews.com—The Metro Jaya Regional Police (Polda Metro Jaya) investigators are questioning prominent Indonesian cryptocurrency community influencer Timothy Ronald over alleged fraud in a cryptocurrency investment. The case caused estimated losses of more than Rp200 billion.

The Metro Jaya Police’s Cyber Crime Directorate (Ditressiber), Subdirectorate 1, is handling the case. The investigation follows the submission of reports earlier this year.

“Investigators conducted the questioning on Wednesday, May 6,” Head of Public Relations for Polda Metro Jaya Budi Hermanto said.

“Yes, on Wednesday, May 6, at around 1 pm local time, two suspects were questioned by the investigator of Subdit 1 Ditressiber Polda Metro Jaya,” Budi said while confirming the case on Sunday, May 10. Tirtocoid quoted this statement.

Investigators also interrogated an associate of Timothy Ronald and co-founder of Akademi Crypto, Kalimasada.

Since January 2025 there have been reports of alleged fraud in connection with crypto investment classes and promotions. As a result, police are investigating.

Authorities said the victims’ community group related to the case involves some 3,500 victims. Moreover, the total estimated financial losses are more than Rp200 billion.

Promotional materials showing luxury lifestyles, wealth, and promises of huge investment returns reportedly lured many victims into joining the crypto classes.

The promotional content tricked the victim into purchasing cryptocurrency coins worth around Rp3 million each. But the report said the value of the coins dropped up to 90 percent after the transaction. This resulted in massive financial losses.

Victims said the investment opportunity was very lucrative and low risk, creating unrealistic expectations for quick returns. Furthermore, the massive price crash made many people feel like hyperbolic promises and marketing ploys had sold them a bill of goods.

The police have yet to comment on whether they will file formal criminal charges. The investigation continues to gather evidence and statements from everyone involved.

Timothy Ronald is a high-profile name in Indonesia’s burgeoning crypto-investment scene, with a large social media following.

The involvement of digital assets and speculative markets often complicates cryptocurrency fraud cases. In such cases, investors and criminals mix investment risk with criminal deception.

Authorities will likely continue reviewing the financial transactions, marketing materials, and business structure related to the alleged scheme.

The probe also highlights growing concern over influencer-led investment promotions. In these cases, lack of transparency can lead to rapid erosion of public trust and huge financial losses.

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