Sunacrip and Venezuelan intelligence police issue warning on cryptocurrency scams – emerging markets bitcoin planet

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Sunacrip, the Venezuelan cryptocurrency watchdog, and the intelligence police (CICPC) have issued a warning to the general population against cryptocurrency scams. The institutions gave a series of recommendations to avoid getting scammed by Ponzi cryptocurrency schemes involving the national cryptocurrency, petro (PTR), advising users to always keep their account passwords secure. It is the government’s response to a slew of crypto scams that have taken place in the country in recent days.

Venezuelan regulator and intelligence police warn users

Cryptocurrency watchdog Sunacrip and Venezuelan intelligence police have issued a warning on social media regarding general cybersecurity, advising users to take a series of basic steps to avoid falling victim to crypto-related scams. The information was shared via the Intelligence Police’s Information Crime Division Instagram account, where the institution said:

We educate the community to avoid falling victim to homeland scams with fake managers who are only looking for their own profit.

The Homeland System is a platform development that is used to obtain petros (PTR), the national cryptocurrency, from the government’s internal wallet and in Sunacrip-approved exchanges, which allow users to sell their petros to the market value. Intelligence police have also suggested that users move all of their crypto assets through Sunacrip-approved exchanges to ensure their safety during these transactions.

Big crypto scams

Sunacrip also suggested that users manage their accounts themselves and avoid giving their passwords to third party managing accounts. This is likely the response to a big cryptocurrency scam that happened last week when a man allegedly faked his kidnappings and stole more than a million dollars from his customers.

According to reports from Douglas Rico, head of the intelligence police in Venezuela, Andrés Jesús Dos Santos Hernández faked a kidnapping where his captors forced him to enter the Binance platform and make transfers to various digital wallets, depleting all of its clients’ crypto assets.

Dos Santos is now on the run from national authorities, facing charges of money laundering and fraud. Binance has become a hotbed of financial movements of Venezuelans investing in cryptocurrencies, and different people offer their services as financial advisers and consultants, managing their clients’ investments and accounts. Specifically, Binance’s P2P market has dethroned the former leading platform, Localbitcoins, relegating it to second place in transaction volumes.

What do you think of Sunacrip’s warning against crypto scams? Tell us in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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