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MARKETS & INVESTING | Staff Reporter, Singapore
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PM Lee warns against bitcoin scammers amidst fake news era

The government will study 22 proposals to address fake news.

Prime minister Lee Hsien Loong urged the public to be wary of articles relating to bitcoin to lure investments on bitcoin and has related it to the issue of fake news spreading in Singapore.

“Countering fake news is not something the government can do alone,” he said in his Facebook page.

He called on businesses, tech companies, media organisations, public institutions, and the public to ‘be aware and to be responsible’ when it comes to consuming online media.

“Scammers have used DPM Tharman’s and my name to solicit bitcoin investments,” he said in a tweet. “Don’t believe everything you see on the internet.”

According to Lee, the Select Committee on Deliberate Online Falsehoods has published their report. With this, the government will move to study the report and the 22 proposals to response to the issue.

Earlier, the Monetary Authority of Singapore (MAS) also issued a warning against websites luring bitcoin investments that ask for users' personal details.

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