SINGAPORE, Sept. 13 -- 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 inves...