MAS warns against websites soliciting cryptocurrency investments

They ask for personal and financial details to buy the cryptocurrency.

The Monetary Authority of Singapore (MAS) urged the public to take extra caution against fraudulent websites that solicit investments in cryptocurrencies with false information attributed to the Singapore government.

Said websites falsely state that the city-state will make cryptocurrency as its official coin. Moreover, they also claim that a particular firm has been exclusively appointed to market the cryptocurrency.

Also read: MAS warns on phishing emails

Aside from providing false information, the sites also ask for readers’ personal and financial details to purchase the cryptocurrency.

“This is a scam and members of the public should avoid providing any financial or personal information on the forms linked from the websites,” MAS said. “Members of the public who suspect that an investment offer could be fraudulent or misused for other unlawful activities should report such cases to the police.”

The central bank has previously warned the public against other fake websites as well as phishing e-mails.

Photo from MAS.