PNP urges public to be vigilant vs. cryptocurrency scams

PNP urges public to be vigilant vs. cryptocurrency scams

PNP urges public to be vigilant vs. cryptocurrency scams
The Philippine National Police-Anti-Cybercrime Group on Friday warned the public against fake cryptocurrency investments.
At a televised public briefing, PNP-ACG spokesperson Police Lieutenant Michelle Sabino said they have been monitoring reports on these scams on social media.
“Huwag po tayong maniniwala sa mga investment na ang promised of interest or returns ng inyong pera ay sobrang laki dahil wala pong ganun,” she said.
(Don’t believe in investments with a promised high interest rate or return for your money because there is no such thing.)
Sabino said scammers offer victims to download a fake crypto application where money can be transferred from digital wallets and online banking.
The app will show the growth of the invested funds.
“Once you start to withdraw, hindi ka na makaka-withdraw. (you will not be able to withdraw). So that’s how you know na victim ka (that you are a victim),” she said.
Sabino also cautioned the public against falling for scammers when they are asked to make cryptocurrency payments. — VBL, GMA Integrated News

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