The Cybercrime Investigation and Coordinating Center (CICC) issued a warning about the growing number of investment scams as cryptocurrency prices soar in the global market.
According to CICC Executive Director Alexander Ramos, 14 individuals have fallen victim to dollar and cryptocurrency scams in just the past week.
Furthermore, foreign scammers are primarily behind these schemes, enticing victims with promises of significant earnings through cryptocurrency investments.
The amount swindled from Filipinos in these fake investments ranges from Php 5,000 to Php 60,000, or approximately one hundred to one thousand dollars.
Victims are instructed to deposit the money into a foreign account, only for communication to be cut off after the transaction.
According to Ramos, the Federal Trade Commission in the US has already released a warning and encouraged Filipinos to alert authorities right away.
