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Miguel Cordon · · 1 min readAround 70 investors lodge police reports against Singapore cryptotrader
“At least 70 police reports were lodged against online cryptocurrency trading platform Torque, run by Singaporean businessman Bernard Ong,” reported The Straits Times.
Details:
- Retail investors were told three days before the Chinese New Year last month that a Torque employee had violated company rules, conducting unauthorized trading activities that led to losses in the investors’ trading accounts.
- Investors claimed that their losses have amounted to millions in cryptocurrencies.
Context:
- Founded in 2019, Torque provides a mainly algorithm-driven automated trading platform to serve as an alternative to managed cryptocurrency portfolios.
- It also offers a digital wallet that can be used to pay for traveling and shopping needs and for wallet-to-wallet transactions.
Editing by Collin Furtado and September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
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