The Securities and Exchange Commission advised the public to stop investing in BitdefiHub Advertising.
The SEC, in an advisory dated Oct. 18, said BitdefiHub, which had been promising to double an investor’s money within 10 days, was not authorized to sell securities or investment contracts to the public because it had not secured permits from the commission.
“In view thereof, the public is advised not to invest or stop investing in any investment scheme being offered by BITDEFI and exercise caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of BITDEFI,” the SEC said.
BitdefiHub has been asking the public to invest a minimum of P300 in exchange for 20 percent in earnings daily, according to announcements on its Facebook page. The company claims that investors who will park their money within a span of 10 days stand to double their profits through the Bitdefi platform.
Investors who deposit P500 are promised earnings worth P100 per day and P1,000 after 10 days. It said an investment of P3 million would yield P600,000 in a day and could be doubled to P6 million after 10 days.