MAS warns of fraudulent website linking ESM Goh Chok Tong to bitcoin investments


SINGAPORE — The Monetary Authority of Singapore (MAS) has issued a warning about a fraudulent website soliciting bitcoin investments using fake comments attributed to Emeritus Senior Minister Goh Chok Tong.

“The website’s article on bitcoin references statements purportedly made by ESM Goh which are either false or have been taken out of context and used in a misleading way,” the MAS said in a statement on Wednesday (31 July). ESM Goh is a senior adviser to MAS.

The site asks readers to make a minimum initial deposit of $250 into a purported trading platform, Bitcoin Loophole, which would then automatically initiate trades on one’s behalf. It also requests users’ credit card or bank account details.

MAS has advised the public to be careful 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.

The MAS had earlier issued advisories on 29 January, 19 September 2018 and 18 September 2018 to warn the public about websites fraudulently using the names and photographs of ministers and other prominent public personalities to solicit bitcoin investments.

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