Following the May 13 arrest of five individuals in Pangasinan for allegedly running an unregistered cryptocurrency investment scheme, the Philippine National Police Anti-Cybercrime Group (PNP-ACG) served search warrants on a suspected unlicensed crypto investment and remittance center in San Carlos City, a component city in the province.
Search Warrants Served
In a Facebook post, the PNP-ACG reported that at around 12:30 p.m., on May 17, 2025, joint operatives from its Cyber Response Unit (CRU) and the Pangasinan Provincial Cyber Response Team (PCRT), in coordination with the Securities and Exchange Commission (SEC), executed a Warrant to Search, Seize, and Examine Computer Data along with a search warrant against the office suspected of operating a large-scale crypto investment scheme without proper authorization.
According to the police, the operation was initiated following a report from the SEC regarding the firm’s unauthorized financial activities.
“This operation underscores our commitment to protecting the public from cyber-enabled financial crimes. We urge the public to remain vigilant against unregistered crypto schemes and to report any suspicious activity to the nearest ACG office.”
Brigadier General Bernard Yang, Acting Director, Anti-Cybercrime Group, Philippine National Police
Alongside cautioning the public about unregistered crypto schemes, Yang also emphasized that cryptocurrency-based investments are regulated by law and violators face severe penalties.
Prior Arrest
Recently, the PNP-ACG, in coordination with the SEC, arrested five individuals in Pangasinan for allegedly operating an unregistered cryptocurrency investment scheme.
The entrapment operation was conducted by the ACG-CRUU and the Dagupan PCRT. The suspects face charges under the Securities Regulation Code and the Cybercrime Prevention Act.
In an exclusive interview with IFM News Dagupan, Public Information Officer Police Lieutenant Wallen Mae DS Arancillo confirmed that authorities were able to locate the alleged investment operation after discovering it lacked proper authorization and necessary documents.
“[Iyong] company, nag-start mag-operate noong 2022, and ang minimum investment po na hinihingi nila is 30,000, with a promise po na 10% monthly return. According din po sa mga investigators na nakausap natin, ay matagal tagal na itong nag-ooperate at marami na po ang nag-i-invest sa kanila. Kahit na marami silang miyembro o legit iyong trading na ginagawa nila, pero nakita ng SEC na wala silang permits, kaya po ay kino-consider na ilegal.”
Police Lieutenant Wallen Mae DS Arancillo, Public Information Officer, Philippine National Police
[Translation: “The company started operating in 2022, and the minimum investment they require is 30,000, with a promise of a 10% monthly return. According to the investigators we spoke with, it has been operating for a long time, and many people have already invested with them. Although they have many members and the trading they do seems legitimate, the SEC found that they do not have the necessary permits, so it is considered illegal.”]
This article is published on BitPinas: PNP Serves Warrants on Unlicensed Crypto Center in Pangasinan City
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