By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Philippine Stock Exchange Warns of Fraudulent Crypto Investment Scam
Share
Notification Show More
Latest News
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025
Business Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Crypto > Philippine Stock Exchange Warns of Fraudulent Crypto Investment Scam
Crypto

Philippine Stock Exchange Warns of Fraudulent Crypto Investment Scam

News Room
Last updated: 2024/08/12 at 9:50 AM
News Room
Share
3 Min Read
SHARE

The Philippine Stock Exchange (PSE) recently issued a warning about a crypto investment scam that is using the PSE’s logo and name to lure unsuspecting investors. The fraudulent scheme involved a fake firm that advertised investing in the PSE through a legitimate-looking website. Investors were contacted through messaging apps and shown fake investment gains, prompting them to increase their investments through e-wallets. The scammers then sent messages claiming that investors entered the wrong order, leading to the loss of their withdrawal passwords. To resolve the issue, the scammers advised investors to create new accounts, make new deposits, and complete new tasks.

The scammers and investors had a Telegram group for communication about investments. When investors complained about their inaccessible accounts, other “members” in the group pretended to be experiencing the same issue but were actually accomplices to the scammers, showing that they were able to withdraw funds. The PSE clarified that they do not own or operate the fake website, do not sell cryptocurrencies, do not have a customer service team, and do not promote cryptocurrency investments. The warning from the PSE comes amidst a rise in crypto scams in the Philippines, with various regulatory bodies issuing advisories to protect investors from falling victim to fraudulent schemes.

In July, the Central Bank of the Philippines (BSP) issued a warning about scams involving AI-manipulated videos and audio promoting cryptocurrency investments. The BSP advised the public to verify the authenticity of social media posts and report any suspicious activities. In June, the Philippines Securities and Exchange Commission (SEC) warned against investing in Skyline Crypto and Dry Goods Trading, labeling them as potential Ponzi schemes. The SEC’s advisory aimed to protect investors from falling prey to fraudulent entities promising high returns on investments.

Crypto scams have been a growing concern in the Philippines, causing financial harm to unsuspecting investors. Last year, the Philippines SEC collaborated with its US counterpart to address the increasing issue of crypto scams. The partnership highlighted the seriousness of crypto-related fraud and aimed to enhance regulatory efforts to protect investors from falling victim to fraudulent schemes. With the rise of digital assets and the growing popularity of cryptocurrency investments, it is essential for investors to exercise caution, conduct thorough due diligence, and verify the legitimacy of investment opportunities before committing their funds. By staying vigilant and informed, investors can protect themselves from falling victim to crypto investment scams.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room August 12, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article DFI is inviting applications for the ‘Screenwriting for Beginners Lab’
Next Article Gold is increasing due to geopolitics and expectations of a rate cut by the Federal Reserve
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE May 27, 2025
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto May 22, 2025

You Might also Like

Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
BusinessCrypto

Bitget to List Official TRUMP Meme Token for Spot Trading

January 23, 2025
BusinessCrypto

Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

January 18, 2025
BusinessCrypto

Bitget Unveils Over $5 Billion Worth of BGB Token Burn in New Whitepaper

December 28, 2024
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?