Fraudulent videos featuring BSP Governor Eli M. Remolona Jr. have begun appearing online, in which he recommends investing in the Tesler Code cryptocurrency project. The central bank has warned that Remolona Jr. has no connection to Tesler Code or any other digital asset investments.
“Such deepfakes are usually used to manipulate the public and to paint the BSP and its officials in a bad light. Defaming the Central Bank or its officials is illegal,” the Philippines Central Bank said.
The regulator urged the public to exercise caution and not to disclose confidential information to unknown people. The central bank also recommended verifying the authenticity of messages allegedly received from BSP officials.
Other well-known companies were also “drawn into” the Tesler Code scam. For example, the Philippine corporation Ayala also stated that its chairman, Jaime Augusto Zobel de Ayala, is not associated with this crypto project.
In May, the Philippines Central Bank approved a pilot project for the PHPC stablecoin, which is pegged to the Philippine peso. Local crypto exchange Coins.ph is participating in the testing. Last week, the Philippines Department of Justice charged two Russians, Sergey Yashchuk and Vladimir Avdeev, with hacking Coins.ph and stealing 12.2 million XRP, worth $7 million.
Source: Bits
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