PSE Warns the Investing Public About Crypto Investment Scams

The Philippine Stock Exchange, Inc. (PSE) received reports of a fraudulent cryptocurrency investing scheme using PSE’s logo and name on its website.

The scheme lures potential investors to register and create an account through the website “https://pse-philippine.com/User/index”.

Based on the information provided, there is an online advertisement about investing in the PSE. When potential investors express interest, they are contacted through messaging applications. The supposed investment is shown to be doing well and investors are asked to increase their investment amount through various e-wallet accounts.

Investors will then be informed that they entered the wrong order, which leads to the loss of the account’s withdrawal password. The scammers will offer to consult with PSE’s customer service on how to address the issue. The solution provided is to create a new account that requires a new deposit and completing new tasks. The messaging applications have a few other “members” who appear to be in the same predicament but they will allay any doubt or fear about the scheme by showing they have been able to withdraw their investments.

Screenshots of the website and the message exchanges with the representative of the group behind the false investment scheme are attached to this advisory.

The public is advised that PSE neither owns nor operates the website “https://pse[1]philippine.com/User/index”, it does not sell cryptocurrencies, it does not have a “Customer Service” team and its employees or agents do not advertise or promote, for purposes of investment, cryptocurrency.

The PSE reiterates that all legitimate stock transactions are done through PSE-accredited trading participants or stock brokerage firms. PSE and any of its officers, employees and agents, do not undertake stock transactions on behalf of clients. The complete list of the accredited stock brokerage firms of the Exchange is available in the PSE website (www.pse.com.ph) under Trading > Trading Participants.
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The Exchange encourages the public to exercise extreme caution and vigilance in dealing with companies or individuals soliciting stock investments, especially those which promise guaranteed returns or income. Investment scams usually involve promises of big payouts, quick money or guaranteed returns and do not contain disclosures on the risks of investing.

The public may contact the PSE to verify the legitimacy of stock investment schemes and the authenticity of documents that are supposedly issued by the Exchange.

The official websites of PSE are the following: PSE main website, https://www.pse.com.ph; PSE EDGE disclosure portal, https://edge.pse.com.ph; PSE EASy platform for Local Small Investors, https://easy.pse.com.ph; PSE EQUIP data analytics site, https://equip.pse.com.ph; and PSE Academy for market education-related materials, https://pseacademy.com.ph.

The PSE’s contact details are +632 8876-4888 and [email protected].

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