The Prime Minister of Singapore, Lee Hsien Loong, recently alerted citizens of a crypto scam that used his image to fraudulently solicit money from trusting investors.
The scam claimed that the Prime Minister was leading a huge crypto project and that anyone who invested in it would be rewarded handsomely. The fraudsters also created deepfake videos featuring the Prime Minister promising big returns on anyone’s investment.
The Prime Minister warned that no authority was associated with this scam and advised citizens to exercise extreme caution and to only invest in regulated projects. He stressed the importance of verifying the authenticity of any investment opportunity before committing funds.
Singapore’s authorities have been intensifying their efforts to tackle fraud in the cryptocurrency space and the government-linked Legal Aid Bureau has been supporting victims of crypto scams by helping them recover their money.
The Prime Minister has also urged the citizens to report any suspicious crypto-related activities to the authorities. This latest scam has further increased the public awareness of crypto related issues as well as the need to approach any investment opportunity with careful scrutiny.
