Philippine securities regulators warns against the rising number of scams using bitcoin and cryptocurrencies.
The Securities and Exchange Commission, said that since October last year, it took action on 4 bitcoin or cryptocurrency related organizations or transactions.
These include Joseph Calata's KROPS initial coin offering, a Ponzi-scheme-type operation called Secret2Success, and two online marketing outfits (Pluggle Inc and Alifelong) that pay recruits in bitcoin or cryptocurrencies.