A representation of the Bitcoin cryptocurrency can be seen in this illustration taken on August 6, 2021. (Reuters / Dado Ruvic / Illustration / File Photo)

The Philippine Stock Exchange said he does not sell cryptocurrency after receiving a report of an individual soliciting investments using his name.

In an Oct. 6 notice, PSE said this person had come forward as a member of a team established for the institution for ‘blockchain digital currency’.

This unidentified person is said to have solicited investments and guaranteed returns to people with a daily value of $ 1,000 (50,710) to $ 2,000 (101,420 P).

PSE also attached screenshots of a chat where the individual attempted to solicit money from another person.

Based on the images, the person identified themselves as a “newly established PSE blockchain digital currency business project team.”

She further claimed that the team “has cooperated with many banks around the world for many years.”

“The operation is simple, the time is fast, and a stable income of 20 to 30% is obtained every day. Professional mentors lead everyone to the freedom of wealth. Your monthly income ranges from $ 1,000 to $ 2,000. Are you interested? ”Read her text message.

Their conversation then led to an invitation to subscribe at a link provided by the alleged scammer.

When asked to prove that he was a member of the PES, the lawyer only asked the person to come to the PES office. She also attached a screenshot of a Wikipedia page on PSE.

Chairman and CEO of PSE Ramon monzon then clarified that the Exchange and its employees do not sell cryptocurrencies, for investment purposes.

“The PSE reiterates that it does not sell cryptocurrency and that its employees or agents do not promote, for investment purposes, specific stocks, investment instruments or cryptocurrency.” , Monzon said.

“The PES reminds the investing public to exercise caution and due diligence in dealing with social media accounts that purport to offer investments and present themselves as employees or agents of the Stock Exchange,” he added. .

Monzon further encouraged the investing public to report other similar schemes using the PSE name and logo.

“We encourage everyone to report any suspected unofficial and illegal use of the PSE name and logo and to verify allegations and report possible fraudulent acts,” he said.

The official regulated platform where the public can buy and sell cryptocurrencies is the Digital asset exchange in the Philippines.

It is similar to other online brokerage houses for stocks and other securities, but specializes in cryptocurrency.

READ: Filipino crypto investors call for help with assets held in PDAX accounts



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