PH SEC Advisory Against MASA MART – XUM TOKEN – Investment Scheme
Its agents and promoters are promising that the token value of Php 5.00 will increase up to Php 50 to Php 70 by next year.
The Philippines Securities and Exchange Commission (SEC) released an advisory against MASA MART for encouraging the public to invest in a digital currency called XUM TOKEN or XUMCOIN, which stands for X for cryptocurrency United Masa, a rebrand of UMC or “United Masa Coin,” without the necessary licenses to do so.
According to the SEC report, the scheme was being promoted online through different applications/website:
a) UMCautobot, XUM/USDT/BOT and XUMUSDT_BOT;
b) XUM Wallet App, which, in turn, is promoted by XUM Foundation and XUM Exchange Ltd.
c) Websites such as https://xumexx.info, https://app.xumex.com, https://exchange.xumchain.com and https://xumchain.com
Its agents and promoters are promising that the token value of Php 5.00 will increase up to Php 50 to Php 70 by next year. If holders stake (the idea of locking their coins & not selling it at a certain period of time) their token, it will generate six (6%) up to fifteen (15%) profit based from their total capital.
SEC highlights that XUM Token or XUMCoin is not listed or not posted in World Coin Index and CoinMarketCap and that it’s not tradeable compared to tokens listed in exchanges regulated by the Bangko Sentral ng Pilipinas (BSP).
SEC informs the public “NOT TO INVEST or STOP INVESTING in any scheme offered by any entities operating under TBCMMP MASA MART INC., MASA MART BUSINESS CENTER OPC, MASA MART ENTERPRISE OPC, MASA MART BUSINESS CENTER, MASA MART FOREX GENERAL TRADING, MASA FOREX GENERAL TRADING LLC, MASA MART FOREX GENERAL TRADING LLC-UAE & XUM FOUNDATION and such other entities engaged in similar activities or initial coin offerings & digital asset trading which are not compliant with the BSP and the Commission.”
SEC also confirmed that this is a ponzi scheme and warned that those people who act as salesmen, brokers, dealers or agents may be criminally prosecuted & penalized with a minimum fine of Five Million pesos (Php 5,000,000) or be penalized by Twenty-one (21) years of imprisonment or both pursuant to Sections 28 & 73 of the SRC.
Anyone with information about Masa Mart or XUM Token business operations of its agents or representatives are encouraged to report it to the SEC via epd@sec.gov.ph.
This article is published on BitPinas: PH SEC Advisory Against MASA MART – XUM TOKEN – Investment Scheme
Oh yes because it is still under process. If you check on CMC requirement before the coin or token can be listed in CMC there should be first an active trading platform, blockchain etc. You can check yourself if you want. Thank you.
kailan pa hahahah si royo lang yumayaman haaha
Instead of finding a fault or butas why not be of help to make it in the cmc. This is a pride of Filipinos, to have our own coin like bitcoin eth etc. This is the generation now. We are in the world of crypto bakit ayaw nating sumabay? Sinu-sino ang magtutulungan kundi tayong mga Pilipino dapat? Hindi ba malaking accomplishment ito kapag nakapasok na sa CMC? Bakit natin papahirapan pa? Sana makita ng pamahalaan ang adhikain ng mga namumubo sa masa. Hindi ito para sa kanila kundi para sa buong sambayanan. Imagine bitcoin? Magkano na ang bitcoin now? Maraming mga turistang nagpupunta sa ating bansa. Kung lahat sila may xum na ipinaglalaban ng masa at nasa proseso para mapalista sa cmc after ng official launching nito, hindi ba dapat maging proud tayo na may nag-initiate na magkaroon tayo ng sariling coin? Gawang Pinoy! Maraming traders na sa bansa pano kung ititrade nila ito hindi lang sa Pinas pati na buong mundo? Imagine the history ng bitcoin dumaan din sa scam scandal, hindi tanggap ng mga tao pero anong nangyari? Now unbeatable na ito ito from 0 value mula noong nailaunch 2009 this year umabot ng 3milyon pesos ang isa. Ayaw ba ninyong magkaroon tayo ng sariling atin tulad ng bitcoin?
Hirap kasi sa atin nasa dugo na ang crab mentality. Hindi na dayuhan ang kalaban kundi sariling kalahi na natin ang nagsisiraan.
It’s hightime na tayong lahat ay dapat magkaisa. Huwag nang maghilaan pa pababa.
Mga bobo yan mga utak talangka ayaw malamangan ng kapwa pinoy sariling atin sisiraan pa mga hayop walng alm kundi manira lng wala nmn silng alam sino bang tanga mag papagawa ng blockchain para lng manloko ng tao with 100k downloaded wallet still counting hindi nag iisip mag isisi yan mga yan pag nakita nila yung xumcoin mataas na price at wala silang ginawa kundi manira lng the gratest revenge is being successfull
What a dumb post. Edi dapat lahat ng crypto currency may advisory na? Naka register po ba ang Etherium at Bitcoin sa SEC? WAG Po tayo manloko ng kapwa
SEC marami na pala kayong alam dito sa MASAMART bakit di pa hinuhuli para mahinto.
Dami pa naloloko nyan hanggang ngaun.