The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on BITTHROUGHCASH, warning the public of the individuals and groups involved in such activities. The advisory defines the activities behind the scheme, and advises the public to not to invest or stop investing in any investment scheme offered by the said company.
In support of this view, Coins.ph does not endorse or is affiliated in any way with such activities or products. Moreover, we have a zero tolerance policy on fraudulent activities and potentially scamming practices. In a separate article, we have enumerated tips on how you can avoid investment schemes and other online scams. We urge our customers to be extra diligent with their funds and to act within our User Agreement.
In response to reports received by the Commission regarding the activities of
BITTHROUGHCASH / BIT2CASH TRADING, INC., the Commission wishes to inform the
public that BITTHROUGHCASH / BIT2CASH TRADING, INC. is not authorized to solicit
investments from the public since they have not secured prior registration and/or license
from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation
In one of their Facebook posts, BITTHROUGH CASH/ BIT2CASH TRADING, INC.,
which is operated by a certain Jayson Saquing Pugiao from Tuguegarao City, claims that
they are legitimate and was already registered with the SEC but upon verification with the SEC
database it turned out that BITTHROUGH CASH/ BIT2CASH TRADING, INC. is not duly
registered and the SEC certificate they showed in their facebook post turned out to be fake.
The public is informed that the issuance of a Certificate of Incorporation only grants
the said entity juridical personality but does not constitute an authority or license for the
corporation to engage in activities that require a secondary license from the SEC such as
the issuance, offering and/or selling of securities or to undertake investment taking
Based on the information gathered by the Commission, a number of individuals or
group of persons claiming to represent BITTHROUGH CASH/ BIT2CASH TRADING, INC.
are enticing the public to invest their money in said entity.
As posted online, BITTHROUGH CASH/ BIT2CASH TRADING, INC. investment
scheme, according to these persons, promises a return based on two (2) options offered
under its compensation plan:
1. INVEST, WAIT AND EARN OPTION—this is an investor’s option to invest
from a minimum amount of P1,000 to a maximum amount of P500,000 pesos
with a lock-in period of 1 month. You will have a 50% weekly income
depending on the amount you invested in.
An investor will also have an option to reinvest another slot after their 1month
Lock-in period. Payout period will be during every first and last Friday of the month.
2. Referral Reward Option—this option will let investors Earn from referring
others. An investor will have a 10% direct referral bonus.
Simply, an investor is entitled to receive passive income from the pool of
investment gathered, while active income is acquired from recruitment bonuses.
As further illustrated in one of their postings, their subscriber need not exert any
effort other than to pay the subscription fees in order to earn. Hence, they may opt to
contribute funds only so that it may be used as trading capital by the company to different
sources such as 1. Casino Finance; 2. Forex Trading; 3. Real Estate; and 4. AdSense
(Online Surveys) or to pay profits or returns to earlier investors. As their famous line states
“Plant now, Harvest Later”.
As mentioned, BITTHROUGH CASH/ BIT2CASH TRADING, INC. is NOT
AUTHORIZED to solicit investments from the public since they have not secured prior
registration and/or license from the Commission as prescribed under Sections 8 and 28
of the Securities Regulation Code
Those who act as salesmen, brokers, dealers or agents of BITTHROUGH CASH/
BIT2CASH TRADING, INC. in selling or convincing people to invest in the investment
scheme being offered by these entities including solicitations and recruitment through
the internet may likewise be prosecuted and held criminally liable under Section 28 of
the SRC and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or
penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the
Also, those who invite or recruit others to join or invest in such venture or offer
investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the
case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19
Furthermore, the names of all those involved will be reported to the Bureau of
Internal Revenue (BIR) so that the appropriate penalties and/or taxes be
The public is advised NOT TO INVEST or STOP INVESTING in any investment
scheme being offered by BITTHROUGH CASH/ BIT2CASH TRADING, INC. and to
exercise caution in dealing with any individuals or group of persons soliciting
investments for and in their behalf.
Should you have any information regarding any investment solicitation by any
individuals or group of individuals representing BITTHROUGH CASH/ BIT2CASH
TRADING, INC., please call the Enforcement and Investor Protection Department (EIPD)
at telephone number (02) 8818-6047 or send your report to the EIPD at firstname.lastname@example.org
For the guidance of the public.
Pasay City, 21 January 2020.