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Alleged Crypto Ponzi Scheme Impersonates Philippine Government Officials To Promote Business

Emily Mason

Summary: Alleged crypto ponzi scheme Bitcoin Revolution has been accused of impersonating government officials in the Philippines to bolster their business, according to a recent announcement. The Department of Finance claimed that Bitcoin Revolution is using the name of Secretary Carlos Dominguez III to promote business. The announcement warned that Bitcoin Revolution is not the only ...

Alleged crypto ponzi scheme Bitcoin Revolution has been accused of impersonating government officials in the Philippines to bolster their business, according to a recent announcement.

The Department of Finance claimed that Bitcoin Revolution is using the name of Secretary Carlos Dominguez III to promote business. The announcement warned that Bitcoin Revolution is not the only operation using government officials' names to promote scams.

The fake news stories claim that the Philippine government has created a platform called "Bitcoin Lifestyle" advocating for citizens to begin profiting off cryptocurrencies. The fake stories have also said that "Bitcoin Lifestyle" will generate tax revenue which will go towards retirement plans and education.

By Emily Mason

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