Despite the increasing incidents of malware scams in Singapore, the Monetary Authority of Singapore (MAS) maintained that the rise has nothing to do with cryptocurrencies. The regulatory body argued that these types of scams are more common in the traditional fiat economy rather than the cryptocurrency market. The statement comes amidst growing concern over cyber attacks on cryptocurrency platforms globally, leading some to question the security and legitimacy of digital currencies. The MAS advises users to remain cautious and be vigilant against any suspicious activities while conducting financial transactions.
Singapore’s Sandbox Lacks Crypto Payment Providers!
