Singapore police warn investors against FTX phishing scams

The crash of FTX is providing a new opportunity for bad actors to profit...

Victims of the FTX crash beware        Promise of lost treasures, scammers declare        Through the use of a fake site        Telling you it'll be alright        But no treasures, just despair The Singapore Police Force has warned investors to be wary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX.   In an advisory on Saturday (Nov. 19), the police issued a warning about a website that was prompting FTX users to log in with their account credentials, with the promise that customers "would be able to withdraw their funds after paying legal fees." Given that an estimated 1 million investors and creditors have been affected by FTX's bankruptcy, it is unsurprising that these types of scams would be proliferating. Unfortunately, things may also get worse before they begin getting better, as local authorities have also issued warnings recently regarding fake online articles that promote cryptocurrency auto-trading programs. While Singapore has established itself as a center for cryptocurrency innovation, bad actors have also seized the opportunity to prey on new investors. Read the full story here on Cointelegraph. Stay ahead of scams by keeping yourself informed. Leverage the same AI technology that Cointelegraph's journalists use to surface the latest news with the NewsQuakes™ indicator that's only available on Markets Pro. © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2022 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.