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Singapore police have launched an investigation into seven people allegedly trading Worldcoin accounts and tokens
According to a statement by Singapore Deputy Prime Minister Gan Kim Yong, Singapore police have launched an investigation into seven people accused of trading Worldcoin (WLD) accounts and tokens
This investigation is being conducted to examine possible violations of the Payment Services Act 2019. The Deputy Prime Minister stated that Worldcoin is not classified as a payment service under this law, but account and token traders can offer a payment service
Kim Yong warned consumers to be wary of offers to transfer control of their cryptocurrency wallets to others. He emphasised that such accounts could be used by third parties for malicious purposes
Stating that Singapore police detained five people last month for allegedly trading Worldcoin accounts and tokens, Yong stated that these people encouraged people to create Worldcoin accounts on behalf of various companies and took over these accounts for cash
