Datuk's cryptocurrency Seri Vida has been marked as "high risk"

Sometimes the truth is stranger than fiction.

The colorful Malaysian personality Datuk Seri Vida recently launched her own cryptocurrency, nicknamed "LaVida Coin".

But you may want to think twice before investing anything – Bank Negara Malaysia (BNM) has listed LaVida's currency & # 39; in his list of consumer notices. Notice pink!

BNM made an announcement on its website that listed the LaVida, VI Profit Galaxy currency operator (DSV Cryptoclub and LUX Galaxies) along with 423 other companies.

Elaboration on the purpose of the list, BNM said this:

"The Bank has updated the list of notices for financial consumers.The list consists of companies and websites that are neither authorized or approved under applicable laws and regulations administered by BNM. "

" Please note that the list is not exhaustive and serves only as a guide for members of the public based on information and requests received from BNM, "he said in a statement.

On Monday, the Securities Commission (SC) announced that it was reviewing LaVida's currency to see if it violated security laws.

The commission also warned investors and advised them to exercise due diligence.

"Operators in the white paper had stated that only through crowdfunding such a diverse range of projects will be able to meet development funding needs," the commission said.

LaVida coin was launched on August 20th with each coin priced at US $ 0.66.

The woman behind the coin, Datuk Seri Vida had said that she was launching the cryptocurrency to finance three different projects, one ng an entertainment platform worth $ 1 billion.

The other projects are a $ 100 million payment gateway and a $ 400 million flies complex.

Source: The Star

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