Singapore Prime Minister urges supporters to remain vigilant about crypto after seeing the name used to sell tokens

Singapore Prime Minister Lee Hsien Loong claims someone set up a profile on the BitClout social token platform to sell tokens using the information from their Twitter account.

In a Facebook post on Friday, Loong urged the Singaporeans to “remain vigilant when dealing with cryptocurrency platforms”. He said someone used BitClout to create one of the platform’s Creator Coins using his name, Twitter account bio and photo. According to the screenshot Loong posted, there were 27,4088 of its tokens with a market cap greater than $ 9,800, with at least one user holding a value of $ 4.77.

“I have found that my Twitter profile (and others too) has been used without my permission or knowledge on a blockchain platform that allows users to buy and speculate with their proprietary cryptocurrency,” the Prime Minister said.

He added:

“The creators of the website are anonymous, but I sent an open tweet asking that my name and photo be removed from the website immediately as I have nothing to do with the platform. It’s misleading and done without my permission. ”

Loong’s account has since been removed, but could have been added to the platform at launch. According to BitClout, the site has pre-installed the 15,000 top Twitter influencers – ostensibly based on number of followers – so that users can “buy and sell their coins even though they’re not on the platform”. The Prime Minister of Singapore has more than 792,000 followers.

However, it appears that the numbers behind the BitClout accounts don’t need to reserve their profiles for the token buying and selling to begin. Tesla CEO Elon Musk’s BitClout profile shows that he has not officially joined the platform, but many users are currently holding his tokens worth $ 89,379.39 each at the time of publication. When creators activate their accounts by tweeting their BitClout address, they are entitled to claim a certain number of their own tokens.

The prime minister’s warning went to his 1.6 million Facebook followers in addition to his Twitter followers, but was supposedly meant for every 5.7 million people living in Singapore. Loong seemed to imply that an investment in the crypto platform was “a victim of fraud” and encouraged users to only look at companies regulated by the Monetary Authority of Singapore.

BitClout has also caught the attention of the former Baywatch Star Pamela Anderson, who distributed signed copies of her last Playboy magazine in 2016 to the three largest holders of her Creator Coin. Anderson’s token is currently valued at $ 6,749.89 with a market cap greater than $ 800,000.