Crypto scammers caught be police in Philippines

Philippines is a south asian crypto neighbouring indonesia.Interest for crypto currency based project is quite high among filipino people

Recently filipino police arrest crypto scammer that were scamming people with a fraud project

The filipino authorities received a message in security tip that a crypto backed project scammed few chinese investors funds and causing them lose money

The chinese citizen complaints about the crypto backed project from Philippines and alerts Philippines authorities to look into this matter

About 277 people were arrested in Philippines for scamming people from the mainland china the project was a ethereum based investment dapp nane crez

After this incident china and Philippines are both strictly overseeing the matter and apply for some extra regulations to keep investment safe