Home Corporate PSE warns of fake blockchain investment solicitation agent

PSE warns of fake blockchain investment solicitation agent

PSE reiterates that it does not sell or promote cryptocurrencies. — BW FILE PHOTO

THE Philippine Stock Exchange, Inc. (PSE) is warning investors of a fake blockchain investment solicitation program offered by an individual posing as a member of a team created by the local bourse.

“The PSE reiterates that it does not sell cryptocurrencies and that its employees or agents do not promote, for purposes of investment, any specific stock, investment instrument or cryptocurrency,” PSE President and Chief Executive Officer Ramon S. Monzon said in an advisory published on Monday.

The PSE received reports of an individual luring investors to create an account through a different website, promising profits of 20% up to 30% or daily returns worth $1,000 to $2,000.

According to the screenshots on the PSE’s advisory, the individual would introduce herself as a member of “the newly established trading project team of [the] PSE” on “blockchain digital currency.”

Her spiel includes mentioning that the team has “cooperated with many banks around the world for many years.”

The person posing as a PSE team member would offer to “arrange” a professional tutor to potential investors for them “to consult how to earn” through the program. She said these “professional mentors lead everyone to freedom of wealth.”

“The PSE reminds the investing public to exercise prudence and due diligence in dealing with social media accounts that purportedly offer investments and represent themselves as employees or agents of the exchange,” Mr. Monzon said. — Keren Concepcion G. Valmonte