<![CDATA[The development of crypto assets has created new opportunities for criminal activities, particularly digital investment fraud causing widespread public losses. Previous studies have examined investment fraud and cybercrime under the Electronic Information and Transactions Law (ITE Law), but comprehensive analysis of the 2023 Criminal Code in addressing crypto investment fraud remains limited. Existing literature generally relies on the former legal framework, particularly Article 378 of the Criminal Code and the ITE Law, without examining the normative reforms introduced by the 2023 Criminal Code. This gap is increasingly significant given complex crypto fraud schemes, including rug pulls, pump-and-dump schemes, and fraudulent Initial Coin Offerings (ICOs), which are not fully addressed by conventional legal frameworks. This study aims to analyze the legal construction of crypto investment fraud under the 2023 Criminal Code, identify challenges in law enforcement, and formulate its normative contribution as an adaptive legal instrument for addressing technology-based digital crimes in Indonesia.]]>
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