In another bitcoin scam, a fake website called BitCoin Trader used celebrity names like Deborah Meaden of BBC’s Dragon Den and MoneySavingExpert founder, Martin Lewis to dupe people out of their money.
Fraudsters use celebrity names to scam people
The scamsters basically worked through a platform called BitCoin Trader that offered a new way to trade cryptocurrency. The adverts for the same has been placed on the various social media channels among other websites while using the images of celebrities like Deborah Meaden and Martin Lewis, the founder of MoneySavingExpert.
The website of BitCoin Trader claims to be an idea of two friends that have worked in Dragon’s Den and even got several of the stars from the show to invest in the project. In order to promote the false cryptocurrency investments, the website provided an easy way to buy cryptocurrencies like bitcoin.
A user has to simply click on the post that takes him to the page where the images of the celebrities are posted along with quotes from the Dragon Den’s stars viz. Eamonn Quinn, Eleanor McEvoy, and Gavin Duffy that recommends one to make investments with the company.
Furthermore, the post takes you to the page where you are required to fill in your contact details after which the company contacts you and persuade you to transfer the funds with a minimum amount of £250.
The fraudsters then simply take away your funds and your financial details. It’s all just a scam.
Deborah and martin calls out the bitcoin scam & asks people to be cautious
This bitcoin scam came out in the open when Deborah Meaden and Martin Lewis spoke out over the fraudulent website claiming to be endorsed by them.
Deborah Den came out with the clarification:
“With the growing sophistication of online fraud, it becomes increasingly important to carry out checks before parting with cash online. A quick Google search will often reveal the truth and all online advertising should be read set against the premise of “If it looks too good to be true then it probably is!”
Martin Lewis stated:
“I find it sickening that these people are leeching off the trust I’ve spent years building in order to target vulnerable people and attempt to steal their money.”
He further explained:
“Let me be very plain. I never do adverts. If you see my picture in an advert on Facebook or anywhere else recommending products – be it Bitcoin, binary trading, PPI firms or anything else – they are nothing to do with me. Be very, very careful.”
Action fraud: UK authority takes the step
Action Fraud, the UK’s national fraud and cybercrime centre has actually received 21 such reports in the month of March alone. The total loss from which has been reported to over £34,000.
Pauline Smith, the Director of Action Fraud called out with:
“Opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and doing everything they can to defraud unsuspecting victims. Anyone who invests in cryptocurrencies should thoroughly research the company they are choosing to invest with.”
He further asks the people, “If you think you have been the victim of this type of fraud, contact Action Fraud.”
Have you ever been the victim of an ICO fraud or bitcoin scam?
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I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.