Australia, Bitcoin Scam, bitcoin scammers, celebrity bitcoin, crypto scam, fake ads, fake news, false ads, investment fraud, Russia

A massive bitcoin ad scam campaign — which features celebrities and mainly targeted Australians — has been traced. The investigation’s findings point to a “highly organized†global business that relies on five addresses in Moscow’s center.

Massive Bitcoin Ad Scam Campaign Traced to Russia

According to The Guardian, the scam campaign’s magnitude has made it difficult for Google, Facebook, or Australia’s financial watchdogs to take down the thousands of ads deployed across the web. The ads often feature Australian celebrities like Dick Smith, Andrew Forrest, Chris Hemsworth, among others.

The sites have been operating on news media-style websites since at least 2018. The coronavirus pandemic has also been boosting victims’ flow due to the lockdowns in many countries worldwide, says the report.

Such fraudulent sites offer bitcoin investment opportunities via a fake news story that acts as a bait, offering a link to a crypto investment scheme endorsed by a celebrity.

Once people submit their personal details to join the scheme, they’ll receive a call, asking them to deposit initially $250 and later to increase it, with fake promises of high yield returns. The same is done in other countries around the world, featuring local TV celebrities – for example in Sweden the well-known TV host Filip Hammar is commonly featured in these ads.

One of the testimonies featured in The Guardian’s investigation revealed that a 77-year-old grandmother from Queensland, Australia, was attracted by a bitcoin “investment opportunity†via a Facebook ad that featured Waleed Aly, a popular Australian TV host.

She initially received a call from a man with an English accent, and she initially deposited $5,000 worth in BTC through a crypto exchange. However, the scam escalated to the point that she managed to transfer up to $80,000 to the scammers.

Although all the investigated websites were registered through third-party companies that hide real owners’ identities, The Guardian found five names who had registered “hundreds†of bogus sites belonging to addresses based in Moscow. Also, similar celebrity-based investment scams were traced to Kyiv, Ukraine.

It’s Not an Easy Task to Deal With Bitcoin Scam Ads, Say Social Media Platforms

The report details that both Google and Facebook have been struggling taking down all the scam ads ran through their platforms, and a spokeswoman from the Australian Securities and Investments Commission confirmed such difficulties:

In an alert published on August 14, 2020, the UK National Cyber Security Centre say they’ve taken down over 300,000 sites linked to fake celebrity-endorsed investment schemes — including bitcoin schemes — also featuring British celebrities such as Richard Branson and Martin Lewis.

Do you think fake celebrity-endorsed bitcoin investment schemes will continue to increase in 2021? Let us know in the comments section below.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

The crypto trading platform Coinseed is shutting down operations according to a written statement from the company’s CEO Delgerdalai Davaasambuu. A court order secured by New York Attorney General Letitia James told Coinseed to halt all of its operations. Following the announcement of the shutdown, Coinseed’s CEO said he created an ERC20 token called “FLJ†[…]

Xem chi tiết: NYAG Court Order to Shut Down Coinseed Succeeds, CEO Creates Profanity Token for Attorney General

Scammers Pick Bank Transfers Over Cryptocurrency, Australian Report Reveals

Investment scams have been by far the most common type in Australia recently, a new report by the country’s consumer watchdog has revealed. And while a growing number of Australians fall victim to fraudulent schemes involving cryptocurrency, bank transfers remain the scammers’ favorite way to extract money. Australians Lose $670 Million to Scammers in a […]

Xem chi tiết: Scammers Pick Bank Transfers Over Cryptocurrency, Australian Report Reveals

Two-Fifths of Australian Millennials Prefer Crypto Investments Over Real Estate

A report published by the cryptocurrency exchange Kraken shows that two-fifths of Australian millennials prefer to invest in cryptocurrency assets over real estate. The survey shows that a number of Australians are losing faith in traditional assets like gold, stocks, and real estate. Kraken’s Australia Managing Director: ‘Young Aussies Look for Other Options to Grow […]

Xem chi tiết: Two-Fifths of Australian Millennials Prefer Crypto Investments Over Real Estate

De-Dollarization: Russia Removing All US Dollar Assets From Its $600 Billion National Wealth Fund

Russia has reportedly announced that U.S. dollar assets will be removed from its National Wealth Fund as U.S. sanctions on Moscow intensify. The fund, which currently totals about $600.9 billion, forms part of Russia’s gold and currency reserves. Russia Steps up De-Dollarization Efforts Russia’s finance minister, Anton Siluanov, announced at the St. Petersburg International Economic […]

Xem chi tiết: De-Dollarization: Russia Removing All US Dollar Assets From Its $600 Billion National Wealth Fund

De-Dollarization: Russia Removing All US Dollar Assets From Its $600 Billion National Wealth Fund

Russia has reportedly announced that U.S. dollar assets will be removed from its National Wealth Fund as U.S. sanctions on Moscow intensify. The fund, which currently totals about $600.9 billion, forms part of Russia’s gold and currency reserves. Russia Steps up De-Dollarization Efforts Russia’s finance minister, Anton Siluanov, announced at the St. Petersburg International Economic […]

Xem chi tiết: De-Dollarization: Russia Removing All US Dollar Assets From Its $600 Billion National Wealth Fund

Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’

Kalashnikov Group, the Russian firearms manufacturer, is ready to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty†and “infectious†paper cash with the digital ruble that’s currently under development. Russia’s Kalashnikov Concern Looks Forward […]

Xem chi tiết: Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’

Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia

A decision by a prominent religious body in Ingushetia to prohibit dealings with cryptocurrency has sparked controversy in the predominantly Muslim Russian republic. Critics have taken to social media to express their disagreements with the ban, pointing out that the treatment of bitcoin in Islamic jurisdictions is not one-sided. Islamic Cleric Explains Reasoning Behind Crypto […]

Xem chi tiết: Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia

Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’

The infamous whistleblower and privacy activist Edward Snowden commented on bitcoin on Friday, after the Biden administration said this week it was shooting for 6 trillion dollars in stimulus proposals. Following the $6 trillion in stimulus headlines, Snowden commented on the situation and said it was “good for bitcoin.†Edward Snowden Jabs Biden’s 6 Trillion-Dollar […]

Xem chi tiết: Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’

Russian Lawmakers Move to Allow Crypto Payments Under Contracts

Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

Best Goal Scorer at Euro Soccer Championship to Get NFT Trophy From Gazprom

Every Fourth Australian Willing to Be Paid in Bitcoin, Poll Finds

Religious Ban on Cryptocurrencies Provokes Social Media Reproach in Ingushetia

Whistleblower Edward Snowden Says $6 Trillion in Stimulus Is ‘Good for Bitcoin’

Russian Lawmakers Move to Allow Crypto Payments Under Contracts

Best Goal Scorer at Euro Soccer Championship to Get NFT Trophy From Gazprom

Other Articles