Scam Alert

FTX Phishing Scams Targeting Investors In Singapore

Investors have been cautioned by the Singapore Police Force to be wary of phony websites that promise to assist them in recovering money from FTX.

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According to local news outlet Channel News Asia, the police warned the public on November 19 about a website that requests FTX users’ login information and purports to be housed by the US Department of Justice.

The unnamed website, according to the authorities, was a phishing scheme created to trick unwary visitors into disclosing their private information. Targeting local investors affected by the FTX collapse, the website asserts that customers could withdraw their funds after paying legal fees.

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Authorities in the area have also issued warnings about false web articles that appear to be spreading recently and advertise Bitcoin auto trading systems in the nation.

An estimated 1 million investors have been affected by FTX’s bankruptcy. This has led investors in Singapore eager to withdraw their investment on the exchange quickly.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.