The (DOF) or the Philippines Department of Finance has urged the public to exercise extreme caution when making any crypto investments. After when a platform illegally uses the name of Secret Dominguez III. Unauthorized investment schemes may look pleasing but keep realistic future returns. The department of Finance said it on Sunday.

Don’t be Oblivious.

The Department of Finance stated that on the official website,  it obtained reports of a fake “cryptocurrency auto-trading platform” which used Dominguez’s name to promote a Bitcoin-themed scheme popularly recognized as “Bitcoin Revolution.”

The Philippines Department of Finance has stated that: “We warn those behind these unscrupulous and unauthorized investment schemes that the government is monitoring the public space for such schemes, and will take appropriate legal and regulatory action,”

The Philippines Department of Finance warned the public who uses BTC against fake news articles that claim that the government had built a platform named “Bitcoin Lifestyle”, which President Rodrigo Duterte allegedly endorsed himself. The articles were reported to have mentioned that the Philippine government had promised big tax revenues that would benefit every citizen.

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Finance assistant secretary Antonio “Tony” Joselito Lambino II, said that: “There is no such effort by the government.” Lambino urged the public to exercise caution in their investment and to keep their expectations for future returns realistic.

The Department of Finance stated in the month of may and warned the public about malicious misinformation and fake news claiming that the Philippines was developing a platform for citizens to earn through cryptocurrency.