ST Picks: Paying a heavy price - How a ‘crypto bank’ investment went wrong

Quick Summary:

He was so excited at being offered a chance to buy a stake in that bank he jumped into it without even checking.

He was so excited at being offered a chance to buy a quarter stake in a new offshore bank that deals in cryptocurrency that he “leapt” into it without checking if the deal was even genuine.

Investing in a bank seems like a sure thing because that’s where the money is, but a businessman in Singapore lost over $2 million when he took too much at face value.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Months Unlimited Subscriber-only Access Stories First Investing Media 99/month Deal Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-14 @ 05:00:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 187 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21604407

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 17 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 10 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

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