PNP warns against cryptocurrency scams

PNP warns against cryptocurrency scams

By Liezelle Soriano

MANILA — The Philippine National Police (PNP) has warned against the cryptocurrency scam circulating in social media.

PNP-Anti-Cybercrime Group spokesperson Police Lieutenant Michelle Sabino said they have been monitoring the reports 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,” Sabino said.

According to Sabino, scammers invite their victims to download a phony cryptocurrency application that will allow them to transfer money from online banking and digital wallets.

The app will display how much money has grown since it was invested.

“Once you start to withdraw, hindi ka na makaka-withdraw. So that’s how you know na victim ka,” Sabino explained.

She also cautioned the public against such scammers.


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