Fraud website using fake comments from SM Tharman to solicit Bitcoin investments: MAS

Fraud website using fake comments from SM Tharman to solicit Bitcoin investments: MAS

fraud bitcoin website
Screengrab of the fraudulent website provided by MAS.

SINGAPORE: A fraudulent website has been soliciting Bitcoin investments by using fabricated comments attributed to a senior minister, the Monetary Authority of Singapore (MAS) warned in an advisory on Tuesday (Dec 3).

The website, attempting to pose as local news outlet The Straits Times, features comments falsely attributed to Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam, who is also chairman of MAS.

READ: How to protect yourself against bank phishing scams

According to a screenshot of the website, the senior minister was falsely quoted as urging people to try a "cryptocurrency auto-trading program" called Bitcoin Circuit. 

The bogus article said the "new secret investment" was "making hundreds of people in Singapore very rich".

"The information on the website is highly deceptive and misleading. The statements attributed to SM Tharman are completely false," the MAS advisory said.

"The site asks for payments into a purported Bitcoin trading platform and tries to obtain credit card or bank account information from readers."

READ: Website using fake comments attributed to DPM Tharman to solicit bitcoin investments: MAS

MAS warned the public to exercise "extreme caution" and avoid providing any financial or personal information on the forms linked from the website. 

"Anyone who suspects that an investment could be fraudulent or misused for other unlawful activities should report such cases to the police," MAS said.

There were similar cases earlier this year involving fabricated comments attributed to Prime Minister Lee Hsien Loong and Emeritus Senior Minister Goh Chok Tong.

Source: CNA/aa

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