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Bitcoin: Crypto Scammers’ Favorite Brit Celebrity

Richard Branson is a well-known entrepreneur who is often used in fake articles sent out by investment schemes, many of which are linked to cryptocurrency, the UK's National Cyber Security Center or NCSC said in a report.

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Richard Branson is a well-known entrepreneur who is often used in fake articles sent out by investment schemes, many of which are linked to Bitcoin cryptocurrency, the UK’s National Cyber Security Center or NCSC said in a report.

That’s what the agency says. In just nine months, it has blocked more than 285,000 of these campaigns.


Fake Endorsements

If you look at the fake news articles, it looks like they come from well-known sources. The scammers spread them by sending out a lot of emails, text messages, or ads on social media sites in Britain and around the world.

They link to websites where people who might be victims of scams are encouraged to invest in them. British cybersecurity experts say it’s becoming more and more of a problem around the world.

Since April to December 2020, the NCSC has stopped 286,322 of these campaigns, according to its annual Active Cyber Defense report, which the British Broadcasting Corporation or BBC cites. It also blocked 731,080 URLs. Cryptocurrency is the main focus these days, but the same strategy can be used to promote other types of investments.

Fake Bitcoin

Fraudsters often use the name of Sir Richard Branson, a world-famous British entrepreneur and investor, to fool people in fake articles from the British press. As for the founder of Virgin Group, this isn’t the first time he has had to deal with fake endorsements.

Branson warned investors about fake crypto stories and ads in a blog post called Beware of Fake Bitcoin Scams in May 2018. He said that people should be careful.

The English business tycoon said that while they have talked about the benefits of real bitcoin (BTC) development before, they do not support these fake bitcoin stories at all. Virgin has set up a website where people can report scams that look like Richard Branson.

They are worried about the number of people impersonating Branson. The company also said that people who follow Branson on social media had been focused by fake accounts.

Thieves and Con-artists

Martin Lewis, the founder of the Moneysavingexpert.com website, also appears in the false articles. To stop these scams that cost millions of people their money and mental health, Lewis has remarked previously.

Another person, Lewis, said that it was the worst compliment he’s ever had. These thieves and con artists are taking advantage of the good name he has built up by trying to help and protect people. They want to steal money from people who are vulnerable. The idea makes me feel sick.

The information of the messages differs depending on the market they are aimed at. Fake Daily Mirror stories with celebrity endorsements may emerge in Britain, as may fake French newspaper stories.

He said that they are very convincing, and it’s not a surprise that people fall for them. Use both newspaper brands and celebrities to make these articles look good, so they seem to be really good. According to the official, Lewis and Branson made up a lot of the scams that the agency found.

Cybersecurity expert: Their names are used because they are well-known and because they are linked to money. It must be very bad for them.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Abby Hernandez is an independent crypto writer for iBaseTrading. She is passionate about NFT, decentralization and anything related to blockchain technology. She has worked in the financial sector for 7 years and loves yoga and dancing.