VICTORIA, Seychelles, June 28, 2024 /PRNewswire/ -- Bitget, the leading cryptocurrency exchange and Web3 company, will launch a unique social project in Vietnam. The campaign aims to educate people on how to use cryptocurrency securely and prevent fraud through engaging and understandable posters and banners. These educational materials, which will provide tips on detecting and avoiding cryptocurrency scams, will be displayed in public spaces such as bus stops, subways, and street billboards.
Vietnam, one of Southeast Asia's most dynamic economies, has consistently ranked highly on Chainalysis' global crypto adoption index, currently holding the third position. According to a report by payment platform Triple-A, around 21.2% of the Vietnamese population owns cryptocurrencies, second only to the UAE at 34.4%.
However, the level of awareness about the risks associated with digital assets remains much lower than the general knowledge about cryptocurrencies in the country. This gap has led to a surge in financial losses due to fraud, especially among vulnerable groups. In 2023 alone, cryptocurrency-related investment frauds resulted in approximately $3.94 billion in losses, a significant 53% increase from the previous year. Data from an FBI report indicates a worrying trend: most victims of investment scams were over 30 years old, with a notable number of complaints coming from individuals over 60, who are particularly vulnerable due to limited access to timely and clear information.
Being the third most populous country in Southeast Asia, Vietnam shares the same alarming trends with other countries in the region, when it comes to digital assets extortion. A 2023 report issued by the UN Human Rights Office shows that this region is plagued with crypto-related romance-investment scams, fraud to illegal gambling. According to the report, the COVID-19 pandemic and associated response measures had a drastic impact on illicit activities across the region. But the most devastating fact about this phenomena is that it actually has more than one set of victims.
Novice investors and elderly people, who are often less familiar with stock markets and digital currencies, are the most common targets for criminals. Most people over 60 have a limited understanding of cryptocurrencies and tend to be more trusting. While they may have heard of cryptocurrencies, their practical experience and knowledge in navigating these investments safely are often lacking. Bitget believes that a significant gap in the modern financial market is the focus on attracting young users, neglecting wider groups, and the insufficient effort to increase financial literacy and risk awareness among users.
Bitget's social campaign aims to address the lack of awareness about cryptocurrency fraud, providing the general public with clear and reliable advice for the first time. The campaign will cover common types of scams such as social engineering, romance scams, phishing, and investment fraud. The project has been developed with the support of leading anti-fraud experts, law enforcement agencies, and sectors like technology, banking, and telecommunications.
"Along with the advancement of technologies, the cryptocurrency market has faced several urgent issues that have tested many aspects of social, economic, and cultural life," says Gracy Chen, CEO of Bitget. "One of the key tools for engaging with the public and raising awareness, including among vulnerable groups, is social advertising. This format has shown high effectiveness worldwide, for instance, during the COVID-19 pandemic, where banners became a central element in informing citizens about the importance of precautionary measures."
In addition to the antiscam initiative, Bitget Research released a report highlighting how deepfakes can account for 70% of the total crypto scams in two years. This indicates over $25B in potential losses in 2024. This is one of the ways Bitget plans to spread awareness around crypto scams. Bitget hopes that the experience in Vietnam will help analyze the effectiveness of such informational tools, improving financial literacy and public awareness. The exchange plans to launch similar social campaigns in other major cities worldwide in the future.
Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun ÇavuÅŸoÄŸlu (Wrestling world champion), Samet GümüÅŸ (Boxing gold medalist) and Ä°lkin Aydın (Volleyball national team).
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Bitget to Launch Social Campaign in Vietnam to Warn About Crypto Scams and Risks
NTUC Club continues to make the sport accessible and affordable for all through partnerships and its estate-less golf club, My Golf Kaki, amid plans for a new, integrated golf development.
SINGAPORE, June 30, 2024 /PRNewswire/ -- This Sunday on June 30, Marina Bay Golf Course (MBGC) – Singapore's first and only 18-hole public golf course owned and managed by NTUC Club – will shutter as its land lease expires. Since its inception in 2006, MBGC has had an illustrious 18-year history, welcoming members of the public to experience its world-class facilities. It made its mark by earning numerous accolades including Best Public Golf Course in Asia Pacific and ranking among the Best Top 3 Best Golf Course in Singapore.
Fun fact: In the past 18 years, the well-loved MBGC has seen more than 1.3 million people on the greens and dispensed over 419 million driving range golf balls.
Despite the closure of MGBC, NTUC Club will continue to make the sport accessible and affordable through its estate-less golf club My Golf Kaki (MGK). This has been done by providing more slots to MGK members during weekdays as well as increasing the number of days night-golf is available at the Orchid Country Club (OCC). Together with the recent expansion of MGK's portfolio of local and overseas courses including in Indonesia and Malaysia, MGK members can not only enjoy an easier planning and booking process, but have a wider variety of golf courses to choose from as well.
Mr Lim Eng Lee, NTUC Club's Chief Executive Officer, said: "Despite the closure of MBGC, we hope to continue to make golf an affordable and accessible sport. In anticipation of MBGC's closure, we have stepped up efforts since last year to promote the affordable MGK membership to golfers. We are encouraged by the response with the community growing from 7,000, to over 9,000 members in the last 12 months. I am pleased that NTUC Club has been working closely with the SGA in our shared vision that golf can be an inclusive sport to be enjoyed by all."
Mr Tan Chong Huat, President of the Singapore Golf Association (SGA), remarked: "The closure of the hugely popular Marina Bay Golf Course will significantly impact Singapore's golfing community without access to a private golf club. We acknowledge the impact of land scarcity on the entry barrier and accessibility to playing golf in Singapore. As the national custodian of the sport, SGA will continue to play its leadership role in developing a robust golf ecosystem that strives to promote and develop the game of golf for all Singaporeans from all walks of life."
He added that SGA will uphold its commitment to making golf an inclusive sport that contributes to the physical and mental well-being of Singaporeans. It remains dedicated to this mission and looks forward to working with stakeholders, including NTUC Club, to achieve pragmatic and beneficial outcomes aligned with urban growth needs and the development of golf in Singapore.
Similarly, NTUC Club is deeply committed to grow Singapore's golfing community, and has been in discussion with the authorities for potential sites that can be developed under the Labour Movement (LM). NTUC Club plans for future LM golf courses to be inclusive with a new, integrated golf concept – one that is enhanced by additional recreational spaces for family-friendly activities such as cycling tracks, nature trails, and common spaces for picnics and performances. Future LM golf courses will welcome not just golfers, but the public and people from all walks of life.
Visuals of MBGC are available here.
About Marina Bay Golf Course
Opened in November 2006, Marina Bay Golf Course is Singapore's only 18-hole public golf course. From a humble reclaimed land to the transformation into an award-winning golf course, this landmark is best known for the only par 6 in Singapore and signature island green overlooking the cityscape. Marina Bay Golf Course is operated by NCI Golf Pte Ltd, a wholly-owned subsidiary of NTUC Club.
About My Golf Kaki
Golf for all, Golf for Good.
Teeing up a vision to be the trusted and leading golf community where everyone can experience and immerse themselves in the game of golf, regardless of status and abilities, My Golf Kaki (MGK) is an energetic community powered by UPlay. As avid golfers ourselves, we're driven by a deep passion for making golf accessible and growing our community of Golf Kakis. Established in 2002, in 2023, we embarked on an exhilarating transformation, complete with a refreshed look and exciting new experiences for our kakis. We're now even more committed to provide members with affordable and amazing golf experiences, complemented by unparalleled service. Join our vibrant golf community in making a positive difference through golf, where we create social impact and foster a strong sense of community! For more details on MGK, visit www.mygolfkaki.com.
About NTUC Club
Established in 1986, NTUC Club is the leisure and entertainment arm of the National Trades Union Congress (NTUC) in Singapore. As part of the Labour Movement (LM), we are committed to providing diverse recreational options guided by values of care, passion, trust, and service. NTUC Club manages clubhouses across the island, Downtown East, D'Resort, Wild Wild Wet, Aranda Country Club, Orchid Country Club, and UPlay. Launched in 2023, UPlay offers 'phygital' recreational experiences, partnering with unions and companies to enhance social well-being and community engagement. NTUC Club also oversees community initiatives like nEbO, U Live and My Golf Kaki - promoting engagement and enrichment for workers. For more details on NTUC Club, visit www.ntucclub.com.sg.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Final Tee-Off At Marina Bay Golf Course: The Sunset That Promises A New Dawn
