PSE Alerts Public to Imitation Site Promising Cryptocurrency Trading | Summary of the Week’s News

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  <p><strong>Greetings!</strong> This week's wrap-up features a crypto scam alert involving the Philippine Stock Exchange.</p>

  <p>Welcome to my weekly foreword. I'd like to focus on a highlight: WOCEE 2024. Invited by Museigen.io, I joined as a co-panelist to share insights on web3 with attendees.</p>

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    <figure class="aligncenter size-large"><img decoding="async" width="1024" height="683" src="https://bitpinas.com/wp-content/uploads/2024/08/WOCEE-1024x683.jpg" alt="Image from the Event - Awareness on Phishing Scams in Crypto Trading | Weekly Breakdown" class="wp-image-58753" title="Awareness on Phishing Scams in Crypto Trading | Weekly Breakdown"/></figure>
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  <p>The standout moment for me was the debate that followed our panel. Split into pro and anti decentralization teams, we tackled this motion: <strong>Is Decentralization More Beneficial or Detrimental?</strong> with the opposing sides being:</p>

  <p>Team Positive:</p>
  <ol class="wp-block-list">
    <li>Floi Wycoco (Coins.ph)</li>
    <li>Fermin Barrenechea (Museigen)</li>
    <li>Mike Biag (Cryptobilis)</li>
  </ol>

  <p>Team Cautionary:</p>
  <ol class="wp-block-list">
    <li>Myself (BitPinas)</li>
    <li>Nelson Lumbres (ICP)</li>
    <li>Patrik Ferrer (The Roundtable)</li>
  </ol>

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  <p>Despite robust arguments against decentralization, and a humorous edge we gave to our position, ultimately, we were critiquing our own industry, and the judges favored Team Positive, seeing web3 as the future.</p>

  <p>It was an enlightening debate that pushed us out of our comfort zone and prompted us to scrutinize our own space critically, where web3 isn't always seen as the default 'good.' It's an experience I'd look forward to replicating in the future.</p>

  <p>Now, let's dive into last week's headlines!</p>

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  <h2 class="wp-block-heading"><strong>Weekly Market Recap 📈</strong></h2>

  <p>Here are your quick crypto updates:</p>

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    <li><strong>Bitcoin</strong> increased by 7.5% from last week, now at $58,533.06.</li>
    <li><strong>Top performer of the week</strong> among the top 100 coins is Sui ($0.9182), up a significant 74.0%!</li>
    <li><strong>Biggest fall of the week</strong> within the top 100 is Maker ($1,889.91), declining 1.9%</li>
    <li><strong>Notable mention:</strong> Toncoin ($6.17) climbed by 14.0% over the week.</li>
  </ul>

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  <h2 class="wp-block-heading"><strong>Main Feature: PSE Issues Crypto Scam Alert</strong></h2>

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    <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="601" src="https://bitpinas.com/wp-content/uploads/2024/08/pse-1024x601.jpg" alt="Image for the Article - PSE Crypto Scam Alert | Weekly Summary" class="wp-image-58759" title="PSE Crypto Scam Alert | Weekly Summary"/></figure>
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  <p>In an urgent announcement, the Philippine Stock Exchange (PSE) warns about a cryptocurrency investment scam using their brand.</p>

  <p><strong>What to know: </strong>This fraudulent scheme tricks investors into believing they're participating in legitimate transactions with PSE's endorsement. The scam, using the fake site "https://pse-philippine.com/User/index," leads to substantial financial losses for victims.</p>

  <ul class="wp-block-list">
    <li>A heads-up: Investment frauds commonly exploit established names to entice unsuspecting individuals.
      <ul class="wp-block-list">
        <li>In 2021, PSE had <a target="_blank" href="https://bitpinas.com/news/pse-warns-public-against-fake-blockchain-schemes/">warned</a> the public of blockchain-related frauds.</li>
      </ul>
    </li>
  </ul>

  <p><strong>From PSE's statement:</strong></p>

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    <p>“The PSE scrupulously disassociates from this site and the promotion of cryptocurrency investments. We urge the public to be exceedingly cautious.”</p>
  </blockquote>

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