Cryptocurrency Scams in Singapore Net $78,000 in Just 3 Months • Live Bitcoin News

Cryptocurrency scams can be pretty lucrative as a string of them in Singapore has netted $78,000 in just three months.

As P.T. Barnum is reported to have said, “There’s a sucker born every minute.” The reality is that many people are quite susceptible to get-rich-quick pitches from unscrupulous actors. A number of cryptocurrency scams in Singapore have managed to con over $78,000 from their victims between September and November.

Cryptocurrency Scams Using Online Ads

The scammers are using online ads to lure their victims into the con. These ads are specifically targeting residents of Singapore and portray Bitcoin investing as safe, easy, and highly lucrative.

It’s quite common for these false ads to use celebrities as a means of portraying the scam as legitimate. Of course, the celebrities supposedly endorsing the investment scheme have no idea their image and name are being used in such a manner.

When people click on the ads, they’re taken to websites that offer the…