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Bitcoin Scam in Singapore

Sofia Cabrera

Summary: An online Bitcoin scam has been flagged in Singapore by the Monetary Authority. An official warning statement was published by Singapore’s central bank and financial overseer, claiming it was brought to their attention that an unreliable article mentions a website for users to invest in Bitcoin. The article incorrectly quotes Goh Chok Tong, local politician ...

An online Bitcoin scam has been flagged in Singapore by the Monetary Authority. An official warning statement was published by Singapore’s central bank and financial overseer, claiming it was brought to their attention that an unreliable article mentions a website for users to invest in Bitcoin. The article incorrectly quotes Goh Chok Tong, local politician and Singapore’s second prime minister. This “get rich fast” scheme required the users to deposit a minimum of $250 into trading platform Bitcoin Loophole, and it also required credit cards and bank account information. 

Author: Sofia Cabrera

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