Singapore Warns Against Bitcoin Scammers Using Premier’s Name

(Bloomberg) — Bitcoin fraudsters are misusing the names of Singapore Prime Minister Lee Hsien Loong and his deputy Tharman Shanmugaratnam to tout investments, prompting a warning from the premier.

© Bloomberg
Singapore Prime Minister Lee Hsien Loong Attends 32nd ASEAN Summit Opening Ceremony

Lee Hsien Loong

“Scammers have used DPM Tharman’s and my title to solicit Bitcoin investments,” Lee mentioned in a tweet on Saturday night. “Don’t consider every little thing you see on the Web!”

Lee in a Fb put up used the crypto instance to spotlight how the town state is trying to sort out the difficulty of “faux information.” A parliamentary committee final week referred to as for brand spanking new guidelines together with giving the federal government better powers to curb the unfold of on-line falsehoods and getting tech corporations to conform.

Two fraudulent web sites trumpeting get-rich-quick Bitcoin schemes used fabricated feedback attributed to Shanmugaratnam, the Financial Authority of Singapore mentioned final week. Shanmugaratnam, who’s additionally chairman of the town’s central financial institution and monetary regulator, had in February warned that Singaporeans might “lose their shirts after they put money into cryptocurrencies.”

To contact the reporter on this story: Andrea Tan in Singapore at atan17@bloomberg.web

To contact the editors accountable for this story: Stanley James at sjames8@bloomberg.web, John McCluskey, Andreea Papuc

©2018 Bloomberg L.P.

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