{"id":238063,"date":"2019-09-23T08:41:29","date_gmt":"2019-09-23T12:41:29","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=238063"},"modified":"2019-09-24T08:26:15","modified_gmt":"2019-09-24T12:26:15","slug":"new-celebrity-crypto-scam-takes-the-spotlight","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/new-celebrity-crypto-scam-takes-the-spotlight","title":{"rendered":"New Celebrity Crypto Scam Takes the Spotlight"},"content":{"rendered":"<p>Cryptocurrency investment scams are as rampant as there are legitimate investment opportunities as well. However, even more, prominent are those who try to be innovative and feign celebrity endorsement. The latest on the list of these scam artists is an attempt by <a href=\"http:\/\/insidebitcoins.com\/news\/scammers-could-use-browser-extensions-to-steal-bitcoin\/237491\">scammers<\/a> to take advantage of mainstream news platforms to push their fake investment platform. economicsworld[dot]info, the dedicated website for the \u201cBitcoin Profit\u201d scam has done some groundwork, getting celebrities to drive potential clients in.<\/p>\n<p><iframe title=\"2 Investigators: Fans Scammed Out Of Millions Of Dollars By Fake Celebrity Accounts\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/-DrUL_Ne15w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Amongst the endorsements, the suite includes testimonies from people such as Kate Winslet, a popular actress, and Andrew Forrest, an Australian business mogul. <a href=\"https:\/\/insidebitcoins.com\/bitcoin-robot\/bitcoin-profit\">Bitcoin Profit<\/a>, however, goes even further, using <a href=\"http:\/\/insidebitcoins.com\/news\/scammers-impersonate-john-mcafee-and-elon-musk-to-promote-fake-crypto-giveaway\/235209\">Elon Musk<\/a>, Bill Gates, and Richard Branson to promote itself as well. Every celebrity has a feature on the platform with their photograph, as well as a balance sheet containing alleged investments and the potential returns.<\/p>\n<p>The balance sheets seem to be rather identical. However, the scammers claim that an investment of $10,394 worth of Bitcoin will yield $421,226 in returns within just a week. That\u2019s an ROI of about 4,110 percent.<\/p>\n<h2>&#8220;It wasn\u2019t me&#8221;<\/h2>\n<p>Some of the alleged celebrity investors have already hit back. Winslet, who was informed about the scam by British news <a href=\"https:\/\/www.mirror.co.uk\/3am\/celebrity-news\/kate-winslet-takes-action-against-20139099\">medium<\/a> Mirror, complained to the media company that she has no hand in the investment scheme. \u201cThis misleading promotion is completely disingenuous and categorically false. We are dealing with this through the appropriate channels,\u201d the publication quoted a spokesperson as saying.<\/p>\n<h2>Celebrities and cryptocurrencies: a retrospective<\/h2>\n<p>The trend of scammers using celebrities to promote their fake investment schemes combines two significant factors; the ignorance on cryptocurrencies on the part of prospective investors, and the raw influence that these celebrities have.<br \/>\nUsing celebrities provides an additional aura of legitimacy, thus making it much easier for investors (particularly, those who don\u2019t understand how cryptocurrencies work) to fall victim to the scams.<\/p>\n<p><iframe title=\"Jamie Foxx, Paris Hilton And Other Celebrities Who Are Hyping Cryptocurrencies | CNBC Make It.\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/7QwqwsrRt7k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>However, this isn\u2019t to say that some celebrities haven\u2019t done their bit of cryptocurrency and <a href=\"http:\/\/insidebitcoins.com\/news\/this-week-in-crypto-ohio-embraces-bitcoin-judge-hassles-sec-and-dj-khaled-fined-for-ico-promotion\/198334\">ICO promotion<\/a>. Back in September, popular TV star and heiress Paris Hilton promoted a crypto asset known as Lydian on Twitter.<\/p>\n<p>In a now-deleted tweet, Hilton wrote, \u201cLooking forward to participating in the new @LydianCoinLtd Token! #ThisIsNotAnAd #CryptoCurrency #BitCoin #ETH #BlockChain.\u201d We all know how that asset turned out; it never saw the light of day, and its chief executive was also accused of domestic abuse.<\/p>\n<p>Steven Seagal, another popular actor, became the brand ambassador for \u201cBitcoiin,\u201d a crypto asset which was just a letter skewed from the original thing. In March 2018, regulators in New Jersey sent a cease-and-desist letter to the founders of Bitcoiin, saying that the asset was never registered as a security in the state.<\/p>\n<p>So far, regulators have done their bit as well, with the Securities and Exchange Commission releasing a letter urging the public to be careful about celebrity-backed ICOs in 2017 as well. However, this hasn\u2019t stopped scammers from trying their luck. In a world where crypto-assets continue to be profitable, and scammers are consistently desperate, it is more important than ever to be careful.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Cryptocurrency investment scams are as rampant as there are legitimate investment opportunities as well. However, even more, prominent are those who try to be innovative <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/new-celebrity-crypto-scam-takes-the-spotlight\" title=\"New Celebrity Crypto Scam Takes the Spotlight\">[&#8230;]<\/a><\/div>","protected":false},"author":1770,"featured_media":230615,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[9451,5498,9452,9449,1457,9450,3780,8539,9346],"class_list":["post-238063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-andrew-forrest","tag-australia","tag-bill-gates","tag-celebrity-endorsement","tag-elon-musk","tag-kate-winslet","tag-richard-branson","tag-scam","tag-scammers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Celebrity Crypto Scam Takes the Spotlight - 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