RATE Group | Singaporeans Duped out of $78,000 Between September-November By Cryptocurrency Scammers:…
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Singaporeans Duped out of $78,000 Between September-November By Cryptocurrency Scammers:…

06 Dec Singaporeans Duped out of $78,000 Between September-November By Cryptocurrency Scammers:…

Posted at 13:15h in Cryptocurrency News by

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A report published by news portal, Strait Times, revealed that between September 2018 and November 2018,  a total sum of $78,000 was lost to cryptocurrency scammers in Singapore. This was made chiefly possible when scammers used Singaporean celebrities (without their knowledge and consent) to entice potential investors.

The Singapore police said that these investment scams, which are advertised online, are designed to target Singapore residents, the portal reported. The online advertisements state that these bitcoin-related investments are safe and secure.

One of the scams operate thus: Once the people click on these online advertisements, they are taken to a different website which offers investments involving cryptocurrencies. Once they send in their personal details, a so-called ‘representative’ calls the investor. The authorities added that such investment schemes are usually from foreign countries and that the Monetary Authority of Singapore…

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