PSE warns vs crypto scam using name and logo | ABS-CBN

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PSE warns vs crypto scam using name and logo

PSE warns vs crypto scam using name and logo

ABS-CBN News

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MANILA - The Philippine Stock Exchange (PSE) has issued a warning about a fraudulent cryptocurrency investment scheme that falsely uses the PSE's name and logo. 

The PSE said that according to reports, the scam operates through the website "pse-philippine.com/User/index," where potential investors are encouraged to create accounts and invest.

The scheme begins with online advertisements claiming that investments are made through the PSE. Interested individuals are then contacted via messaging apps, where they are shown supposedly successful investments and encouraged to increase their contributions through various e-wallet accounts.

As the scam progresses, victims are informed that they made an incorrect transaction, leading to the loss of their account's withdrawal password. The scammers, posing as PSE representatives, offer a solution that involves creating a new account and making additional deposits. The messaging apps also include fake "members" who claim to have successfully withdrawn their funds, attempting to reassure victims.

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The PSE has clarified that it neither owns nor operates the website in question, does not sell cryptocurrencies, and has no involvement in promoting cryptocurrency investments. The public is urged to exercise caution and avoid falling victim to this fraudulent scheme.

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