Police have observed fake online articles featuring Senior Minister Tharman Shanmugaratnam (SM Tharman) purportedly endorsing algorithmic cryptocurrency auto-trading programs, such as Bitcoin System, claiming that such programs would generate massive profits. The online articles portrayed the investments as highly lucrative and almost risk-free. This endorsement has not been made by SM Tharman.
These online articles are usually paid online advertisements that act as “clickbait”. By clicking on a link within the article, one would eventually be brought to a different website, which would offer investments through the trading of cryptocurrency and/or other financial products. The website would request for the victim’s contact details and those who provide their details would usually receive a call from a ‘representative’ from the scheme.
Members of the public are strongly advised to exercise extreme caution and avoid providing any financial or personal information on the forms linked from the website. They are also encouraged to “Ask, Check and Confirm” before making any investment decisions.
Here are some of the screenshots from the website:
Image Source: Singapore Police Force