Singapore Police Warns Public About Fake FTX-Related Websites

Singapore Police Warns Public About Fake FTX-Related Websites

Fake the United States Department of Justice website offers investors to "withdraw their funds after paying legal fees."

The Singapore Police Force, the national and principal law enforcement agency responsible for the prevention of crime and law enforcement in the Republic of Singapore, has issued a warning regarding fake FTX-related websites.

According to the news report shared by Channel News Asia, the fake website targets FTX investors, promising to help recover investment losses.

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The website reportedly imitates a website hosted by the United States Department of Justice for users to log in with their account details. When logging in to the fake website, users were promised to “be able to withdraw their funds after paying legal fees.”

The police claim that the website is “likely a phishing website for collecting login credentials.” At the time of writing, there is no information about investors that fell into the trap.

Along with the warning about fake FTX-related websites, Singapore Police Force also warned investors about articles promoting “cryptocurrency auto-trading programs.”

According to the police, these articles usually include quotes from Senior Minister Tharman Shanmugaratnam and Speaker of Parliament Tan Chuan-jin. In the reports, politicians allegedly promote cryptocurrency auto-trading programs, such as Immediate Edge, claiming that they generate massive profits and are “highly lucrative and almost risk-free.”

The police noted that after clicking on the website, users are usually directed to a different website, which offers “investments through the trading of cryptocurrency or other financial products.” After providing their personal information, users would receive a call from a person involved in the scheme, pressuring a person to invest.

It is not the first time the Singapore Police Force issues similar warnings. In June, the police warned the public about fake online articles claiming that Prime Minister Lee Hsien Loong “purportedly endorsed cryptocurrency auto-trading programs.”

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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