Philippine Central Bank denies connection to Tesler Code project accused of fraud.

The Central Bank of the Philippines Denies Affiliation with Tesler Code

The Central Bank of the Philippines (BSP) has issued a statement denying any connection to the cryptocurrency project Tesler Code. Recent fraudulent videos online falsely featured BSP Governor, Benjamin M. Diokno Jr., recommending investing in Tesler Code. The BSP clarified that Diokno Jr. has no affiliation with Tesler Code or any digital asset investments.

BSP Warns Against Deepfakes and Manipulated Materials

The BSP condemned the use of deepfakes and manipulated materials to manipulate public opinion and damage the reputation of BSP and its employees. Such actions are illegal and can erode trust in financial institutions. The BSP urged the public to be cautious and avoid sharing confidential information with unfamiliar individuals, while also verifying messages allegedly from BSP officials.

Ayala Corporation Denies Involvement with Tesler Code

The Philippine corporation Ayala denied any connection between their chairman Jaime Augusto Zobel de Ayala and the Tesler Code crypto project. In May, the BSP approved a pilot project for the stablecoin PHPC, pegged to the Philippine peso, in collaboration with local crypto exchange Coins.ph. However, recent charges against two Russians for hacking Coins.ph highlight the importance of protecting against fraud and cybercrimes in the cryptocurrency sector.