Vico Sotto on Crypto Scams Targeting Citizens

Fraudsters target Barangay Pinagbuhatan under the guise of an official city investment program.

Pasig City has warned against a cryptocurrency scam posing as an official program under the city government.

In a May 17 Facebook post, Mayor Vico Sotto cautioned against a fraudster offering crypto coins using the name of the city government.

An individual claiming to be an LGU employee was allegedly stationed near the Centennial II area in Brgy. Pinagbuhatan, soliciting payments for a supposed crypto investment.

Sotto said the city government does not offer any such program involving cryptocurrency. He advised citizens to report suspected scams to the Pasig City Public Information Office and the Philippine National Police.

Investments and cryptocurrency exchanges are heavily regulated by the Securities and Exchange Commission to protect investors and ensure compliance with strict laws.

Don’t fall for the ‘Pasig Coin.’ Mayor Vico Sotto warns against a crypto scam illegally using the city government’s name in Barangay Pinagbuhatan.

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Verifying local government programs

Demand government identification. True city employees are legally required to wear their official, visible LGU identification badges containing their employee number and the seal of the city. If an individual refuses to let you examine their badge or photo-verify it, or if they are operating out of an unofficial tent or mobile station, treat it as a serious concern.

Cross-check via official media badges. Before participating in any city-wide livelihood or cash-transfer program, verify the project on the official, verified digital platforms of the Pasig City Public Information Office (PIO). Legitimate initiatives will always be documented with official press releases, complete guidelines, and matching criteria before ground deployment begins.

If you spot suspicious investment solicitation in your neighborhood, do not confront the actors directly. Silently take a clear photograph or video of their operation and report the coordinates directly to the Pasig PIO or your nearest local police precinct.