Warren Buffett, the billionaire CEO of Berkshire Hathaway, a giant multinational holding conglomerate with over $700 billion in total assets, had been appearing in Google searches as the CEO of Bitcoin (BTC).
As first noticed by reddit user “u/degrudv”, Mastercard CEO Ajay Banga, who has previously referred to digital currencies as “junk”, also appeared in Google searches for “Bitcoin CEO” and “CEO of Bitcoin.”
Jamie Dimon, the CEO of JPMorgan, the world’s sixth largest financial institution in terms of total assets, was picked up by the search engine giant as Bitcoin’s CEO as well. As most crypto watchers are aware, Dimon had called the flagship cryptocurrency a “fraud” back in September of 2017.
Faulty Google Search Engine Algorithm
In an effort to make it easier to find information, Google introduced a new type of algorithm in 2012 that quickly processes queries from users directly inside its search engine - without having to connect to remote databases.
However, there have now been many reported cases of Google’s search engine returning inaccurate results. In January of 2018, LaVar Ball, a controversial media personality and entrepreneur, was temporarily identified as the founder of the National Basketball Association (NBA).
As many loyal NBA fans would know, the NBA was established after a merger (in 1949) between the Basketball Association of America (BBA) and the National Basketball League (NBL) - which was 18 years before LaVar Ball was born.Commenting on the incorrect associations made by Google’s search engine, one of the company’s representatives told Motherboard:
Entities in the Knowledge Graph and associations between them are automatically generated based on available information on the web. It’s not always perfect, and when we’re made aware of incorrect associations, we work to fix the error.
Google Ad Words Allow Scammers To Steal $50 Million
While no technology might work perfectly all the time, there have been many more serious cases of Google’s search engine being used by hackers to lure people into phishing scams. In February 2014, a group of Ukrainian cybercriminals, known collectively as Coinhoarder, stole over $50 million in digital currency from users of Blockchain.com’s crypto wallet.
The malicious Coinhoarder group had purchased Google Ads related to commonly used keywords in searches for Bitcoin and other cryptocurrencies. When people searched for things like “crypto wallet” or “blockchain”, several spoofed links appeared such as “block-chain.info” and “blockchien.info.”
Presumably, the unsuspecting users might not have noticed the misspellings and proceeded to enter in the private passwords which the hackers then used to gain access to and steal their digital assets.