[ALERT] ADVISORY ON BITCOIN INVESTMENT SCAM

Submitted by irteam on Fri, 12/13/2019 - 13:59

Background 

Fake news articles have been circulating on social media as sponsored ads, claiming that the Minister of Development is encouraging the public to invest in a new cryptocurrency trading platform called Bitcoin Storm, which allegedly can transform anyone into a millionaire within 3-4 months. The Ministry of Development has issued an official statement refuting these articles and warned the public that it is an investment scam. 

Impact 

  • May lead to huge financial losses due to scam. 

Recommendations 

  • Not to make any investments with individuals or entities that are not permitted under the relevant laws. 
  • Never trust any advertisements that promote get-rich-quick schemes. 
  • Never reveal any confidential or personal identifying information especially financial detail to untrusted parties. 
  • Any suspicious advertisements regarding investments should be reported to Autoriti Monetari Brunei Darussalam (AMBD).