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Fake Bitcoin Sites Use Names of Singapore Leaders to Solicit Investments, Japan’s Cryptocurrency Exchange Loses US$62 Million In Hack
FINANCE INDUSTRY

The Monetary Authority of Singapore (MAS) found three fake bitcoin sites that were using the names of Singapore leaders–Prime Minister Lee Hsien Loong and Deputy Prime Minister Tharman Shanmugaratnam–to solicit investments. The fake sites used fabricated comments attributed to the leaders and touted the profitability of bitcoin investments. The MAS warned the public to be cautious of such sites and avoid divulging financial or personal information on these sites.

Japanese cryptocurrency firm Tech Bureau Corp said it lost US$62 million worth of digital currencies after its Zaif exchange was hacked on 14 September. Hackers had stolen three types of cryptocurrencies–Bitcoin, MonaCoin and Bitcoin Cash–from the firm’s hot wallets, which are cryptocurrency addresses where funds for immediate transactions are held. Investigations are ongoing.

References:
[1] PM Lee warns of bitcoin scam site using his name
[2] Second site flagged for using fake comments attributed to DPM Tharman to solicit bitcoin investments
[3] Japan's hacked crypto exchange says US$62 million worth of coins stolen
[4] Zaif cryptocurrency exchange loses $60 million in recent hack

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