Following the Might 13 arrest of 5 people in Pangasinan for allegedly working an unregistered cryptocurrency funding scheme, the Philippine Nationwide Police Anti-Cybercrime Group (PNP-ACG) served search warrants on a suspected unlicensed crypto funding and remittance heart in San Carlos Metropolis, a part metropolis within the province.
Search Warrants Served
In a Facebook post, the PNP-ACG reported that at round 12:30 p.m., on Might 17, 2025, joint operatives from its Cyber Response Unit (CRU) and the Pangasinan Provincial Cyber Response Staff (PCRT), in coordination with the Securities and Alternate Fee (SEC), executed a Warrant to Search, Seize, and Study Laptop Information together with a search warrant towards the workplace suspected of working a large-scale crypto funding scheme with out correct authorization.
In accordance with the police, the operation was initiated following a report from the SEC relating to the agency’s unauthorized monetary actions.
“This operation underscores our dedication to defending the general public from cyber-enabled monetary crimes. We urge the general public to stay vigilant towards unregistered crypto schemes and to report any suspicious exercise to the closest ACG workplace.”
Brigadier Common Bernard Yang, Appearing Director, Anti-Cybercrime Group, Philippine Nationwide Police
Alongside cautioning the general public about unregistered crypto schemes, Yang additionally emphasised that cryptocurrency-based investments are regulated by regulation and violators face extreme penalties.
Prior Arrest
Not too long ago, the PNP-ACG, in coordination with the SEC, arrested 5 people in Pangasinan for allegedly working an unregistered cryptocurrency funding scheme.
The entrapment operation was carried out by the ACG-CRUU and the Dagupan PCRT. The suspects face prices below the Securities Regulation Code and the Cybercrime Prevention Act.
In an exclusive interview with IFM Information Dagupan, Public Data Officer Police Lieutenant Wallen Mae DS Arancillo confirmed that authorities had been in a position to find the alleged funding operation after discovering it lacked correct authorization and vital paperwork.
“[Iyong] firm, nag-start mag-operate noong 2022, and ang minimal funding po na hinihingi nila is 30,000, with a promise po na 10% month-to-month return. In accordance 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 buying and selling 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 Data Officer, Philippine Nationwide 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 text is printed on BitPinas: PNP Serves Warrants on Unlicensed Crypto Center in Pangasinan City
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