RATE Group | Cryptocurrency scammers dupe Singaporeans out of $78,000 in 3 months
51632
wp-singular,post-template-default,single,single-post,postid-51632,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Cryptocurrency scammers dupe Singaporeans out of $78,000 in 3 months

05 Dec Cryptocurrency scammers dupe Singaporeans out of $78,000 in 3 months

Posted at 19:56h in Cryptocurrency News by

[ad_1]

Singaporeans have lost $78,000 to cryptocurrency investment scams in the last three months, after authorities uncovered a wave of fraudulent marketing campaigns.

Cryptocurrency con-artists have duped citizens with phony articles featuring well-known Singaporean personalities to garner credibility, local media reports.

The advertisements falsely claim local celebrities earned huge returns on their Bitcoin investments made with fake companies. These lies eventually lured unsuspecting members of the public into sending in their cash, receiving nothing in return.

Police explained individuals who provided contact details normally received calls from supposed “representatives,” in a bid to legitimize the scams.

According to reports, these schemes originate from countries outside of Singapore. This unfortunately means they are not subject to the authority of Singapore’s top financial watchdogs.

But even if these businesses were locally based, those…

[ad_2]

Source link