THE Department of Migrant Workers on Friday, April 19, 2024, warned overseas Filipino workers and their families against the presence of investment scams coursed through allegedly legitimate investment platforms. In a statement, the DMW said OFWs and their families must be vigilant against using platforms such as 'Trade 13.0 Serax,' which is involved in cryptocurrency trading.
The department said 'Trade 13.0 Serax' is not a registered nor accredited corporation, partnership, or one-person corporation, according to the Securities and Exchange Commission . It also noted how the platform uses deceptive tactics, such as clickbait, or a catchy headline purportedly from a reputable news organization, to lure Filipinos into investing their hard-earned money.