'Bitcoin Profit' Scam Uses Fake Celebrity Endorsements to Promise 4,000% ROI

Neil Dennis

Scammers are using fake news, fabricated celebrity endorsements and the lure of "easy" profit from bitcoin investment to defraud Australian citizens.

Advertised on a fake news website called economicsworld[dot]com, the non-existent investment platform Bitcoin Profit includes fake celebrity endorsements from the likes of Tesla chief executive Elon Musk and actress Kate Winslet.

Beware of Promises of Instant Riches

Among the fake endorsements was a scam interview with Australian entrepreneur Andrew Forrest, who suggested a new "wealth loophole" could "transform anyone into a millionaire within three-to-four months".

The fake endorsement continues:

What's made me successful is jumping into new opportunities quickly- without any hesitation. And right now, my number one money-maker is a new cryptocurrency auto-trading program called BTC Profit System. It's the single biggest opportunity I've seen in my entire lifetime to build a small fortune fast.

As ever with financial scams, there were strong giveaways that this was a fraudulent offer. The fake news website contained a multitude of grammatical errors, and promises of triple-digit percentage gains or instant wealth are always too good to be true.

 

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