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The recent report by the Singapore authorities revealed that residents lost about $ 78,000 to online fraudulent platforms in three months.
Cryptocurrency online scam using fake personalities
The Straits Times reports that Singapore residents have fallen victim to some Bitcoin online scams in a couple of months, losing up to $ 78,000 between September and November 2018. Police said the unwitting residents of Singapore were the target of these investment scams.
The authorities stated that these scams were in the form of paid online ads and had photos of famous Singapore celebrities / personalities. These personalities are portrayed as endorsing the use of virtual currency like Bitcoin and how they have profited by investing in cryptocurrency.
Unsuccessful investors in Singapore who can not see through the false move on to click on suspicious links and further on to another website. The new website will then show investments in digital currency. Scam sites always have a "representative" who contacts victims who provide personal details on their websites.
According to the police, these online cryptocurrency sites are foreign and do not have permission from the Monetary Authority of Singapore (MAS). Victims and their risky investments and fraudulent sites can not be traced or verified. Investors would also find it difficult to file a complaint against such fraudulent schemes.
The authorities also claimed that there was no regulatory framework for virtual money and as such there is no protection for investor funds. However, the police gave her hotline and website to Singapore residents to contact, if they suspect online scam platforms.
Cryptocurrency scammers use online platforms to cheat investors
Online cryptocurrency scammers using images of celebrities and celebrities are not new. Most of these fraudulent websites and online platforms use these images, even claiming that these personalities are earning big investments on Bitcoin. The investor who can not say everything fake ends up as a victim.
In September, the Singapore authorities warned their citizens against two fake virtual currency websites showing the Prime Minister and his deputy. Internet scammers have used both government officials to get Bitcoin investments from unsuspecting victims.
In addition, Twitter has become a haunt for digital currency scammers who hack personality accounts and announce elaborate tributes. Tesla's notorious CEO, Elon Musk, is the victim of imitation by cryptocurrency scammers on Twitter.
Recently, a group of hackers violated the Twitter accounts of two British stores and changed the profile picture and name in Elon Musk. The scammers have also stated through tweets that "Elon Musk" was giving away 10,000 Bitcoins (BTC).
In addition, scammers violated Twitter accounts belonging to Target and Google G Suite. For Target & # 39; s, scammers announced a 5,000 BTC while G Suite hackers tweeted a complimentary 10,000 BTC to the entire community.
Image courtesy of Shutterstock.
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