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Filipino Crypto Scammers Are Impersonating Government Officers for Earnings

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The Philippines Division of Finance warns folks that Bitcoin Revolution makes exercise of authorities officials’ names to spread unsuitable files endorsing their alternate.

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Filipino Crypto Scammers Are Impersonating Government Officials for Profit

One more Filipino finance entity issued a warning against the alleged crypto Ponzi procedure Bitcoin Revolution, accusing them of impersonating the country’s president, as well to its finance and treasury officials. 

In step with the Division of Finance (DOF) in an alert printed on June 21, Bitcoin Revolution has been using the title of Secretary of Finance Carlos Dominguez III to promote what the watchdog claims is a unsuitable “cryptocurrency auto-trading platform.”

Unsuitable files as bait for investors

The alleged scammers are reportedly spreading unsuitable files with a bit of writing that claims authorities has created a platform called “Bitcoin Lifestyle,” total with a unsuitable commentary issued by President Rodrigo Duterte, urging all citizens “to uncover about Bitcoin Lifestyle rapidly to net entangled.”

Assistant finance secretary Antonio Joselito Lambino II completely refutes that the Filipino authorities is promoting cryptocurrency investments and endorsing Bitcoin Revolution. The DOF issued a commentary:

“We warn these within the support of these unscrupulous and unauthorized investment schemes that the authorities is monitoring the general public situation for such schemes, and can simply soundless procedure close appropriate simply and regulatory action.”

Diversified warnings issued against Bitcoin Revolution

On March 30, the Philippines Securities and Alternate Commission (SEC) warned that Bitcoin Revolution is a Ponzi procedure largely focused on Filipino, Australian and European investors. But the Philippines is no longer the finest country to field such a warning. The Malta Monetary Providers Authority (MFSA) issued an alert on October 31 final one year, asking investors to remain cautious against what it appears to be an global net-properly off-fleet scam.