Singapore – Bitcoin Scammers Use Name of Goh Chok Tong

scammers used the name and imagery of legendary former Singaporean PM to lure .

scams have been plaguing internet users for years now. While it is an international phenomenon, in it seems to be occurring on a higher rate than most other developed countries.

On July 31, the Singaporean Monetary Authority () has issued a serious warning of a crypto lurking the Singaporean websites. This particular has shamelessly used false statements, supposedly made by Emeritus Senior Minister (former Prime Minister) , who led the country from 1990 to 2004 and remains a beloved and trusted Singaporean icon.

The site has used the name and imagery of the prime minister, pertaining to be a trading platform that can automatically initiate trades on the users’ behalf in order to maximize profits. Users were asked to make an initial deposit of $250 into Loophole and later were requested to provide their bank account and/or credit card details. 

Scammers Use Name of – Finleaks

This is not the first time local scammers have used popular politicians’ imagery in order to win over the hearts of their . In September , a similar , using the name of popular then-Deputy Prime Minister , in order to persuade to ‘invest’ in a , was discovered by Singaporean authorities. Over the last year, other fraudulent websites have ‘jumped on the bandwagon’ and have used the names and imagery of multiple politicians and public figures in order to solicit investments.

The scams in were particularly effective as unfounded rumors have circulated online, suggesting will be the first country to officially adopt the bitcoin as its official coin has led to a surge in Singaporean investment in the popular .

In its warning to the public stressed that “members of the public are advised to exercise extreme caution and avoid providing any financial or personal information on the forms linked from the suspicious website”.

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