The Philippine Stock Exchange has warned the investing public about a fraudulent blockchain solicitation scheme circulating on social media that uses the name and logo of the local bourse.

Someone claiming to be part of a “newly established trading project team of the PSE” has been soliciting investments and inviting people to create an account through a certain website, the PSE said.

This solicitor guarantees a hefty return of 20 to 30 percent or $1,000 to $2,000 daily for those who will invest in the so-called “blockchain digital currency” scheme.

“The PSE reiterates that it does not sell cryptocurrencies and that its employees or agents do not promote, for purposes of investment, any specific stock, investment instruments or cryptocurrency,” PSE president Ramon Monzon said in an advisory on Monday.

“The PSE reminds the investing public to exercise prudence and due diligence in dealing with social media accounts that purportedly offer investments and represent themselves as employees or agents of the Exchange,” he said.

Monzon urged the public to report any suspected unofficial and illegal use of the PSE’s name and logo. INQ

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