British entrepreneur Richard Branson has spoken out over the “worrying” spread of bitcoin scam stories and ads. Some of the most common are false endorsements and fake binary trading schemes, he warns. Advising everyone to remain vigilant, Branson suggests that users should report fake stories to the platforms which have published them.
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Billionaire Linked To “Get-Rich-Quick” Schemes
Virgin Group founder, Sir Richard Branson, has voiced his concerns over the “worrying” rise in bitcoin-related online scams involving his name. “I have written several times warning people about the growing problem of fake stories online linking me to get-rich-quick schemes, fake pages, misleading ads, false endorsements, and fake binary trading schemes,” he says in a blog post titled “Beware of Fake Bitcoin Scams.”
Some of the most regular and worrying fake stories currently spreading online are false endorsements of bitcoin trading schemes, Branson explains in the piece published on Virgin’s corporate website. “While I have often commented on the potential benefits of genuine bitcoin developments, I absolutely do not endorse these fake bitcoin stories,” he states.
Branson also notes that the fake articles often have titles involving “quitting your job and yours truly investing in bitcoin financial tech”. The sites which publish them impersonate well known news outlets, such as CNN, to make them look legitimate, he warns.
“You may come across these sites via links advertised on various social media sites and paid for ads. They link through to scam sites like Bitcoin Trader, and also feature fake endorsements by the likes of Bill Gates alongside myself,” Richard Branson complains.
Sir Branson Advises Vigilance
The British magnate informs his
