Beware: Scam Site Pretends DPM Tharman Is Rolling in Bitcoin
In a surprise alerts on Tuesday night (Sept 18), the Monetary Authority of Singapore (MAS) flagged a copy‑cat website that pretends to be quoting Deputy Prime Minister Tharman Shanmugaratnam. The bogus page tries to drum up bitcoin investments with fake endorsements.
What the Scam Says
- Headline. “Tharman Shanmugaratnam Invests $1 Billion for All Singapore Residents. Use HIS Method To Become Rich In Just 7 Days!”
- Claims. Tharman is called a “venture capitalist” who “announces” Singapore’s grand entrance into the Bitcoin market.
- Call to action. The site asks you to log on to a “Bitcoin account,” then fill in your credit‑card or bank details.
MAS’s Red‑Flag Warning
MAS called the article “highly deceptive and misleading.” It pointed out that the only true statement about Tharman was his remark that crypto trading volumes in Singapore are low.
“Put simply, the DPM’s quotes are altogether made up,” said MAS. “You’re looking at a mash‑up of rumors and a big marketing pitch, not the real DPM.”
Key Takeaway for Everyday Singaporeans
Like the DPM himself said: “You could lose your shirts when you invest in cryptocurrencies.” Remember:
- Do not share financial info. Refrain from entering credit‑card or bank details on any link from the shady site.
- Watch the headlines. A bold claim about $1 billion and 7‑day riches is usually a red flag.
- Check the source. Real news comes from The Straits Times or official MAS releases, not random sites.
Who to Tell If Something Feels Wrong
Reported to the police if you suspect a fraud or think the scheme might be used for illegal activity. MAS also suggested turning to the Police for a quick look‑up.
Bottom Line
Big money promises + fake government quotes + instant‑rich prompts = the total package for a scam. Stay skeptical, keep your personal info safe, and let your favourite public figures know that they’re NOT investing billions in bitcoin.
