Joint Crypto Warning Issued by Venezuelan Watchdog & Police

A warning has been made public by the joint authorization of the Venezuelan Police as well as the Sunacrip – an authority that looks after the interests of the country’s financials, including the crypto industry, warning the public against active crypto fraud schemes set up by scammers and fraudsters. A whole list containing multiple recommendations has been endorsed by both entities which focus on equipping the general public on how to identify fraud and how to prevent it from happening. People have been stressed upon to keep their passwords and confidential information to themselves without letting them disclosed to anyone else.

Venezuelan Government is currently facing the challenge where crypto criminals are actively rising in the countries. Crypto frauds on the basis of Ponzi schemes and scams as well as hack attacks are common and are drastically increasing. In the last ten days, only multiple million dollars loss has already been caused to Venezuelans and government functionaries are fearing for more.

This challenge is giving a tough time to the Venezuelan Intelligence Police as well as Sunacrip by going head to head with both entities. While police lack the equipment and skillset to catch the culprits who are hiding behind internet identities and not like normal criminals. Meanwhile, Sunacrip, being the country’s major watchdog of financials, is under criticism because it is continuously failing to prevent crimes.

However, both are under immense pressure and have formed a joint strategy. A list containing multiple recommendations has been authored by both Venezuelan entities. The recommendations contain methods of how a person can identify the difference between a fraud and a genuine opportunity. Furthermore, the recommendations have been designed in such a manner that they equip a person to prevent crypto fraud on its own. The list of recommendations was shared with the general public by official Instagram accounts of both the authorities.

The police message addressed the general public and urged them to become police partners in preventing such crimes. Police requested the general public to avoid engaging with the malicious actor at all costs otherwise they will be from amongst the victims. These malicious managers have no remorse but a one-point agenda i.e. to rely on somebody else’s money. In the end, the police ensured its full cooperation and support in helping people fighting against crypto frauds.

Similar was the message that was shared from the Telegram account owned by Sunacrip. The authority reaffirmed its strict action against those involved in criminal activities. However, the authority urged the people to adopt the responsibility of preventing such crimes by helping the local police and Sunacrip. Public’s cooperation will be a great service to the community and the nation, claimed Suncrip.

The crypto fraud situation is quite alarming in Venezuela these days. A vast activity of crypto fraud is also happening on the basis of Petro, which is an official digital currency of Venezuela. Crypto fraudsters are specifically exploiting Petro for the fulfillment of their objectives.

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