So, there are reports coming out of Singapore that a bunch of fake articles related to a Bitcoin scam have been popping up on Facebook.
Local news has been covering a series of phony stories about a cryptocurrency scam that's been making the rounds for a while now. This scam is using the name of Ho Ching, who is not just the CEO of Temasek Holdings but also the Prime Minister's wife, to push something called 'Bitcoin Pro.'
You can catch all the details in the news here.
Honestly, these shady scam operations are just hiding behind the faces of famous people and well-known figures to trick folks into believing them.
I recall a scam going on called Ubex AI that even used Ian Balina's photo with a fake quote promoting their project without asking him first, and he wasn't happy about it. He even vented about it on Reddit.
Right now, they’re just stalling to keep their unsuspecting community hopeful while they plan to disappear with the funds later. I got kicked from their Telegram group for calling them out on their shady practices not too long ago.
Tbh, it feels like we can’t stop this trend. Every day, it seems like more Bitcoin scams are cropping up, and they’re likely to use another famous person’s likeness without asking.
This is one of the challenges we will continue to have in crypto as long as there is nobody to ensure that things are done right. I am sure majority of the celebrities being used might not even be aware unless maybe someone called their attention to it. I have not seen a company launching a product or wanted to raise fund in the capital market that would claim someone is their board member or they have a brand ambassador or influencer without express approval for such because they know someone will ask. Aside the ordinary members of the public, even the stock market officials would so their own due diligence before being allowed into the market but in crypto, everything goes. Someone in far away Asia is advertising to those in the Philippines and using a reputable figure that either does not exist but a profile is create for
Profiteering can be subject to serious criminal offenses because it has spread to the public, there must be enough evidence for further processing from people who feel disadvantaged.
has happened in my country when they took a photo of one member of parliament without permission. The ITE Law in my country has been able to process Facebook screenshots as evidence related to investment fraud, from which accurate data can be developed.
I'm seeing a new round of scams with the same trick happening in different websites/apps lately and the involves impersonation not only by the identity of the person but also known pages of websites in order that they can scam money out of it. One of the worst things I saw lately was a livestream of a channel showing Vitalilk having an interview and it fooled thousands of people with their send ETH to this address scam. I do think that the government should step up or at least these websites like Facebook and Youtube do their thing
We know on how FB and Youtube works when it comes to frauds but it wont really be totally get rid out of lots of users to be check thats why theres always a report button or sending our reports.
Anytime i do see a potential scam neither on social media or any other platforms then i do immediately report it before they would able to fool out lots of people and scam hell ton of money.
Its not totally new on using up other personalities to scam or swindle out users.Scammers would really do all sorts of things just to extract out easy money from others.
People are way too gullible i swear.
If you want to invest, you have to do your due diligence. One rule of thumb is that if you see some ad that is promising incredulous returns, it's likely to be fake, if not a ponzi scheme altogether. I've seen plenty of these ads and the best thing to do is to just ignore and report them.
The thing with these sort of scams is that they're so obvious to spot, but if you fall into one, there is no chance for legal recourse. You're not dealing with a legally compliant investment entity or anything like that, and the admins behind these schemes are largely anonymous.
We should report this scheme to Facebook, so they can take action and not again be accused of allowing scams to be taking foothold in the biggest social media site. I am seeing similar articles like this being shared on Facebook for free, and they are getting the traffic they want by attributing sometimes controversial statements to famous people only to see that the article is actually promoting an investment scheme which is of course just another scam. We should never allow the return of fake news to Facebook that is why alerting them can be helping a lot.
You will find more ways from scammers to lure people into investing in their shitty projects, there are many projects using fake team members and fake vouching and some are using legit business personalities without their knowledge, i have seen scam accusation and investigators here doing a good job hunting those scammers and contacting the person advertised to know whether they are really related to the project.
I don't think these people involved in a scam project will respond to the ways of contacting them. Investigators will always do their job according to the mindset of affected groups of people who've been their victims. Using the names of Celebrity was a more deceiving strategy coming from these scammers who used a platform stating that a popular celebrity is part of their team, unfortunately, it's was just absolutely lies. Swindlers can't be stopped, and the only to prevent them to intrude you as their potential preys is to avoid having transactions on unknown people. Always scrutinized if someone offers you any type of investment in order to prevent falling to the traps of swindlers.
It can be stopped if it's circulating on Facebook. The platform has a way to recognize suspicious websites being shared on personal messages and I think they can do the same with posting of links through groups, pages and even personal walls.
They just have to set an ai recognition for it which I think is already working but they have to strengthen it concerning these fake links and scam projects. The system should be likethis, ff facebook recognizes the link to be a new one, they'll automatically decline it to be posted unless the person posting it will comply to a set of standards set by FB.
The only way that this can be stopped, is that Facebook step up their campaign against crypto scammers. I don't know they seems to go back and relax again after cracking down most of the scams early this year. And for those individuals, don't be greedy, nothing is free in this world, or at least getting huge ROI smells shady. Just used your common sense and you will be good.