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Crypto Scams

New Bitcoin Scam Uses Fake Celebrity Endorsements

Cryptocurrencies are indeed a hot topic these days, especially with the world under complete lockdown. Millions are growing interest in the sector, and some are even investing. So much so, that certain crypto firms and researchers believe that US citizens are investing their $1200 COVID-19 stimulus package in crypto. With so much profit potential, cryptocurrency investment is actually luring. However, some scammers are taking advantage of the situation, and utilizing the credibility of celebrities to attract potential investors into fake investment opportunities. 

Bitcoin Pro: A fake trading app

One such platform is the Bitcoin Pro. Make no mistake, this is not the older Bitcoin Pro App, but a scam trading platform which is equipped with an automated trading application. It has positioned itself as a potential high-return investment platform. However, the only possible outcome of investing in it is losing the entire investment amount, let along making any profits out of it. 

The misleading trading robot in question was actually created by an unauthorized affiliate network, with an aim to scam people, by luring them of making million dollar profit returns out of their investment in the Bitcoin pro scam trading app.

Scammers using celebrity names to gain credibility

While crypto scams have been there for a long time, scammers are now using celebrity images to advertise their schemes and crate credibility among the audience. We are often lured into something that is endorsed by prominent personalities, and Bitcoin Pro, along with other scammers are taking advantage of that psyche. For example, the Bitcoin Pro registration page displays an image of CNN anchor Jake Tapper endorsing the platform. 

However, the same endorsement has been promoted in other clone sites like Bitcoin Rush and Bitcoin Trader, which is substantial evidence that such advertisement is nothing but a scam trap. Moreover, there are a number of fake reviews circulating on the web regarding the profit potential on such platforms. Well, the scammers do not stop there. Apart from reviews and fake advertisements, they have also pushed a number of fake articles, and have made them seem believable by using celebrity faces like Gordon Ramsay, Sir Richard Branson, Dragons’ Den, Eric Bana, Shark Tank, Martin Lewis, James McAvoy, Peter Lim, Daniel Radcliffe, and Jamie Oliver.

A couple of weeks ago, celebrity Eric Bana tweeted regarding the same stating, “Unfortunately even in times as harsh as now, there are no stopping scam artists. Please do not open any fake articles claiming that I am involved in any way in cryptocurrencies. My name is illegally being used for that purpose. Take care.”

Recently, British TV presenter and former X-Factor star, Rylan Clark-Neal issued a warning to his followers, to not believe in the fake interview, that was then going around the internet, stating that Ryan had made millions by trading Bitcoin. A couple of weeks ago, the FBI also released a statement explaining that it expects the rise of crypto scams amid the COVID-19 pandemic. 

In this scenario, we recommend you keep away from such fake promises of high-return crypto investments. While the crypto industry is undoubtedly a promising proposition, there is no way of using it as a short-term money-making machine. 

Stay safe! 

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