NEM Alerts the Public of New Fake XEM Wallet

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Blockchain Platform NEM reminds the public of fake websites disguised as an official NEM online wallet app.

New Fake NEM Wallet Spotted

According to NEM, the website: https:// www. nem-online. info is not an official website address of NEM. Furthermore, it reiterates that NEM does not have a web-based wallet app.

In the past, NEM and its community have been quick to remind the public whenever there are fake wallets that appear on the internet. Last December 2017, NEM warned the public of mobile app FreeWallet (Multiwallet). This is due to several XEM holders complaining that they lost their XEMs when transferring the coins to Freewallet. NEM said in a statement:

The mobile app is a fraud and misleads people. Kindly DO NOT USE this for any NEM (XEM) transactions or you might lose your tokens.

Freewallet defensively responded to NEM’s query but complaints from users losing their XEM in this wallet continue up to this day.

NEM also alerted the public last November 2017 of another fake site – MyNem(dot)org.

NEM recommended downloading apps coming from https://nem.io/downloads. This is the page where you can download the official NEM Computer and Mobile Wallet. You can also check Bitpinas’ NEM Page where we also list down the wallets recommended by NEM.

NEM

As the world’s 7th-best performing cryptocurrency according to Coinmarketcap right now, NEM is a decentralized blockchain written in Java. It has features like “Proof of Importance Algorithm and multisignature accounts.

NEM in the Philippines

NEM also has an established presence in the Philippines. Last year, it opened a blockchain center in partnership with Appsolutely, a company with expertise on designing reward platforms. The Blockchain Center acts as a hub where people can learn the basics of blockchain and cryptocurrency. The partner in this endeavor, Appsolutely, is building the Loyal Platform, a decentralized rewards system running on the NEM Blockchain. Loyal Coins’ ICO is currently underway.

Also, NEM previously announced that a NEM (XEM) – PHP Exchange Platform will soon be available in the Philippines because of a deal with virtual currency exchange sites in the country. The exchange is said to arrive before January ends. This will mark the first time where another cryptocurrency can be traded directly with Php in addition to bitcoin.

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]