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Scammers resort to fake news to bait victims, names of high-profile figures being used to trick people
Names of high-profile figures being used to trick people to invest in dubious cryptocurrency
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A screenshot of a fake bitcoin site with bogus remarks attributed to Deputy Prime Minister Tharman Shanmugaratnam. Such false endorsements are typically the work of crime gangs, say bitcoin experts.
PHOTO: MONETARY AUTHORITY OF SINGAPORE
Calvin Yang
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At first glance, it looked like any news article on the website of British newspaper The Mirror.
Under a picture of Singapore Prime Minister Lee Hsien Loong, the article quotes him on how extremely profitable investments in bitcoin, a form of electronic cash, can be. "Some literally hate me for investing in this!" Mr Lee is quoted as saying, with the headline blaring out how a $100 investment in 2010 would be worth $75 million.
