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Manila Bulletin devider Philippines devider DOF warns public vs. fake news on 'Bitcoin Revolution'

DOF warns public vs. fake news on 'Bitcoin Revolution'

Published Jun 10, 2020 12:00 am
By Richa Noriega The Department of Finance (DOF) warned the public on Wednesday (June 10) against the proliferation of false information regarding Finance Secretary Carlos Dominguez III supposedly promoting a “cryptocurrency auto-trading program called Bitcoin Revolution.”
The department said that a DOF staff observed similar investment schemes fraudulently using the names of Treasury and Finance officials in other countries to encourage potential investors to join their program. Last May 19, DOF also issued a warning against another cryptocurrency scam. According to the department, the peddlers of the false information claimed that the government has created a platform called “Bitcoin Lifestyle.” The fake information also added that President Duterte “is urging all citizens of Philippines to learn about Bitcoin Lifestyle quickly to get involved.” DOF urged the public to report suspicious investment schemes to the Enforcement and Investor Protection Department of the Securities and Exchange Commission (SEC) at telephone number (02) 8818-5704. The department also warned those behind the unauthorized investment schemes that the government is monitoring the public space for such schemes and will take appropriate legal action.
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