SEC warns vs unregistered schemes, crypto platforms
The Securities and Exchange Commission (SEC) has cautioned the public against unauthorized investment schemes, including those that use suspicious application files to access victims’ mobile devices and carry out fraudulent transactions.
In an advisory, the regulator said the entity “Ecocapsule” was not registered with the Commission and does not have the required license to solicit investments, urging the public to refrain from or stop investing in the scheme.
The SEC said Ecocapsule was offering two plans—the “mini” and “large” levels—promising unusually high returns over short periods.
Under the mini plan, investors were enticed with a maximum hourly income of P1,212.08, amounting to P174,643.02 over a 60-day cycle. The large plan, meanwhile, dangled a maximum daily income of up to P43,411.02 or P347,298.08 over an 80-day cycle.
The scheme also promoted commissions through team-building and marketing structures, a common feature in illegal investment-taking activities.
Separately, the SEC flagged several entities operating under the HTX brand—including HTX Cryptocurrency Exchange and Huobi Global—for allegedly offering digital asset trading and derivatives services without corporate registration, a license to offer securities or registration as a crypto-asset service provider.
The Commission emphasized that soliciting investments from the public without proper registration and a secondary license was prohibited under Republic Act No. 8799 or the Securities Regulation Code.
The regulator also warned against installing unauthorized application package files sent by individuals posing as representatives of legitimate institutions.
These files may allow scammers to access sensitive personal and financial information, intercept one-time passwords and carry out unauthorized transactions, such as loans using stolen credentials.
The SEC urged the public to report suspicious online lending activities, illegal investment schemes and unauthorized transactions through its hotline or the SEC iMessage Portal.
The Commission said it would continue to step up enforcement actions and financial literacy efforts to curb illegal investment activities and protect investors.
