Bitcoin trader, one of the latest and most viral get-rich-quick crypto scams which is being very aggressively promoted by affiliate networks and media agencies is illegally using the name and reputation of Richard Branson in order to peddle fraudulent software to unsuspecting victims. In his blog on Virgin Media he warns of “fake endorsements” and reminds readers that the fake news reports are “linked to scam sites like Bitcoin Trader.” In fact, the use (or misuse) of Branson’s name is get-rich-quick crypto scams has been so prevalent, that it is now considered by many to be the bar-none favorite rich celebrity profile to be used by online scammers (Elon Musk is also very widely used). Fake news articles in CNN and more recently sponsored ads in Facebook are also getting extremely aggressive as marketers with big budgets have understood the effectiveness of fake news articles.
To illustrate, we have attached a screenshot of the fake CNN News article as it appears to the viewers. The headline clearly states that “560 Thousand British Quit Their Job After Richard Branson Invests Heavily in New Bitcoin Financial Tech”.
Needless to say this is an extremely misleading piece of fake news, and the fact that it directs internet users to the Bitcoin Trader Scam makes it even more insidious and criminal.
Here we also see a sponsored ad on Facebook. In this case it says that Bronson “hacks multiple crypto exchanges”. We actually clicked the “learn more” button and in we were directed to another scam named the Bitcoin Code. A second click lead us to another web page dubiously named the “Ethereum Code“, which is also being promoted via fake news reports about actress Gal Gadot making over $7,000 daily using “a new crypto system”.
This trend will not abate as scam artists peddling scams like Bitcoin Loophole and Crypto Genius are relentless and similar to sharks when they smell blood they go for the kill. In other words, the marketers keep testing new customer acquisition tactics and they now understand that this tactic is generating the most profit for them so we expect this trend to continue and even increase.
Whats Real and What’s Fake?
Branson’s real social profiles are easily identified with the blue tick. That means the profile has been verified by the social network and it is real. Anything else is fake and designed with an alternate motive in mind.