Second site flagged for using fake comments attributed to DPM Tharman to solicit bitcoin investments

The second website that was found to be using fake comments attributed to Deputy Prime Minister Tharman Shanmugaratnam to solicit bitcoin investments.
The second website that was found to be using fake comments attributed to Deputy Prime Minister Tharman Shanmugaratnam to solicit bitcoin investments.PHOTO: MAS

SINGAPORE - A second website has been found to be using fake comments attributed to Deputy Prime Minister Tharman Shanmugaratnam to solicit bitcoin investments, the Monetary Authority of Singapore (MAS) said on Wednesday (Sept 19).

This comes after a similar site was flagged late on Tuesday.

In a statement on Wednesday, MAS reminded the public to exercise "extreme caution" when dealing with such websites and avoid providing any financial or personal information on the forms linked from the sites.

"Cases of fraudulent investments and other forms of unlawful activities should be referred to the police," the central bank added.

A screenshot accompanying the MAS statement shows an online article with the headline: "Tharman Shanmugaratnam launches hi-tech digital project for Singaporians (sic). This will make you rich in just 7 days!"

On Tuesday, MAS issued a warning about a fraudulent website that claimed Singapore was entering the bitcoin cryptocurrency market, with the announcement falsely attributed to DPM Tharman.

MAS said then that the statements in the article were completely false, apart from DPM Tharman's observation that trading volumes in cryptocurrency are low in Singapore. The authority also added that it is highly risky to put money in cryptocurrencies such as bitcoins.

 

On Feb 5, DPM Tharman, who is also MAS chairman, said in a reply to a parliamentary question that Singaporeans "could lose their shirts when they invest money in cryptocurrencies".

In an advisory on Dec 19 last year, MAS warned the public of the risks of cryptocurrency investments.