The CEO of Ryanair Micheal O’Leary, a budget airline, recently called out Bitcoin and referred to it as a Ponzi scheme. This happened after his success story was used to encourage victims to participate in a fraudulent crypto scheme.
Using the likeness of celebrities
Cryptocurrency scammers are well known for using the likeness of celebrities and successful people like billionaire Sir Alan Sugar and actress Kate Winslet. These tactics help them in luring people to their platform and invest with their hard-earned money, thinking that a celebrity is endorsing the product.
In a recent episode, scammers used the likeness of Ryanair CEO Michael O’Leary to promote a fake Bitcoin auto-trading scheme. After he was questioned about his involvement by The Sunday Times, the CEO said that he is not associated with any Bitcoin venture. He went on to say that Bitcoin is a scam in itself which is the “equivalent to a Ponzi scheme.”
The ad appeared on numerous high-profile websites linked to a fake Bitcoin interview on The Late Late Show featuring O’Leary and Ryan Tubridy. In the interview, he is shown to be saying,
“I’m glad I tried [Bitcoin] because it was some of the biggest and easiest money I have ever made. I’m talking tens of thousands of euro[s] a day on autopilot.”
The fake interview makes tall claims
The fraudulent interview also suggests that O’Leary made money from auto-trading bot Bitcoin Lifestyle. It also suggested that the National Ireland Bank couldn’t reach him to stop spreading the secret to his wealth. Interestingly, there is no such entity as a National Ireland Bank. Earlier, actress Kate Winslet’s name was being used to promote an auto trading system that allows users to win with 99.4% accuracy. Her spokesperson denied her association with the project and called the promotion false and disingenuous.
O’Leary, however, added that he categorically hates Bitcoin, going so far ahead as to call the cryptocurrency a Ponzi scheme. He also advised everyone to “avoid bitcoin like a plague.”