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MAS issues warning on fraudulent website soliciting bitcoin investments

Photo: REUTERS/Edgar Su

Wed, 19 Sep 2018, 12:01 pm UTC

The Monetary Authority of Singapore (MAS) has issued a warning against a fraudulent website that has been soliciting bitcoin investments using fabricated comments attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam.

The MAS has also released screenshots of the fraudulent website in its notice:

“The website’s article on Bitcoins is highly deceptive and misleading. The statements attributed to DPM Tharman are completely false, apart from his observation that trading volumes in cryptocurrency are low in Singapore,” the MAS said.

Last December, the central bank issued an advisory to warn the public of the risks associated with cryptocurrency investments.

“The site asks readers to sign up for a Bitcoin account and requests for credit card or bank account details. Members of the public should exercise extreme caution and avoid providing any financial or personal information on the forms linked from the website,” it added.

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