The important British investor, Richard Branson, warned people on Thursday that there are many scam sites using his name to steal investors’ funds.
In a blog post he explained:
“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.”
Branson mentioned that there were different kind of fake ads promoting financial products and services that he had never endorsed before. He has also made clear that he supports genuine Bitcoin developments but he needs to warn about fake crypto-related stories.
“Some of the most regular and worrying fake stories currently spreading online are false endorsements of bitcoin trading schemes. While I have often commented on the potential benefits of genuine bitcoin developments, I absolutely do not endorse these fake bitcoin stories,” he wrote.
If this was not enough, he said that these scams try to create websites similar to well known news outlets, and there is when people thinks that these ads are legitimate.
“They often have titles involving quitting your job and yours truly investing in bitcoin financial tech. The sites often impersonate well known news outlets, such as CNN for example, to make them seem more legitimate. You may come across these sites via links advertised on various social media sites and paid for ads. They link through scam sites like Bitcoin Trader, and also feature fake endorsements by the likes of Bill Gates alongside myself.”
Another strategy used by scammers is to create fake Twitter accounts and ask for ETH saying that they will be giving away two or three times more the ETH gathered. Vitalik Buterin, Charlie Lee, and Binance exchange have experienced these situations.