Richard Branson Used In Crypto Trading Scams

13.07.2022 10:07
by Nina Petrov
7 min read

For the last few years, the name Richard Branson has become closely associated with the crypto-trading trend. He is a well-known businessman and entrepreneur also famous as a not-so-typical celebrity who likes to invest his millions in risky business. Richard Branson is also an adventuristic, philanthropic, cosmopolitan man whit a unique lifestyle adored by so many fans. That is why investing in crypto groups seems so logical choice for him.

But is it so simple?

Richard Branson, Elon Musk, and Martin Lewis are just a few names often exploited by online media to gain more web traffic and make more money. Their names are a sort of online platform themselves because they are famous individuals and just by mentioning their names, a website can be visited by millions.

Also, if you are as globally popular as Richard Branson, the chances are high that your name (and face) will be used as a crypto trading platform for crypto trading scams.

Did Richard Branson Endorse Crypto Trading?

Unfortunately, cryptocurrency-based fraud is a fast-growing trend and it is becoming increasingly difficult to put an end to it.

Crypto-coin fraudsters use classic scams such as the so-called Prince of Arabia scam and use all available online platforms through which they can lure victims. They primarily use fake news and fake media portal that seems to come from safe and well-known media companies (New Yorker, BBC).

Behind all this is a skilled crypto-fraud that exploits the character and work of superstars to provide credibility to the false news and remove any doubts.

Investing in cryptocurrency trading is somewhat mystified and often confusing.

Even though crypto trading seems attractive and intriguing – phrases like a crypto coin and crypto exchange are confusing for most people. They have no idea what that actually means and what is the technology behind it.

For those more gullible and people who are not aware of the dangers lurking from almost all sides – investing in crypto groups means a safe and easy way to make quick money.

Especially if it is supported by popular people whose success in entrepreneurship is generally known, such as Richard Branson.

Behind the scammers is a network of top hackers from around the world that is becoming more dangerous every day. So much so that even to people who are intrigued by cryptocurrencies, everything can be done legitimately and who will fall prey to fraud.

How Did They Do It?

Richard Branson is one of the favorite frontline superstars of crypto fraudsters. They were so persistent and created media chaos around his name. He allegedly invested in various crypto platforms and made crypto exchanges. All of this is of course backed up by fake photos, masterfully photoshopped. Many of these fake articles claim that he invested in his cryptocurrency trading platform.

Fraudsters use all available modern channels, primarily by email, and “catch” naive users through advertisements on websites.

The fraudsters introduced themselves as members of Branson’s team, kindly offering quick earnings and support through the process. They were so convincing and sound professional that many accepted. Everything would look responsible and authentic.

Those who fall for it would fill out various forms and would eventually be asked for access to a bank account during a supposedly secure process.

Some of them would contact people and introduce themselves as Richard Branson in person. He categorically rejected that possibility, as well as the fact that anyone from his team would contact people through accounts on social networks.

“My official social media accounts are all verified and, to be clear, I do not send direct or private messages to my followers and do not send personal messages regarding investments, charity donations, or speaking engagements from these accounts or any others.”

There is no language, national or cultural barrier that crypto scammers are unable to cross. Thus, for example. in English-speaking countries to spread fake news about Richard Branson or Martin Lewis, while in France or a smaller country it will place fake news about a local entrepreneur or celebrity.

In other words, these scams are custom-made, but globally popular personalities, such as Richard Branson, are ruthlessly exploited in these crypto campaigns. So whether he wanted to or not, Branson increased global interest in investing in cryptocurrencies.

Crypto Trading Scams and Pandemic

Every global crisis is ideal for frauds of various kinds. People are panicking and worrying much more about the future. This makes them more sensitive and gullible and ideal prey for fraudsters.

The Covid-19 pandemic was also specific in that most people worked from home and were almost 24/7 online. Almost everyone was looking for some comfort and security for the future. The percentage of people who stumbled upon crypto trading scams increased significantly during the pandemic.

Based on NCIS (U.K.’s National Cyber Security Centre) report 30,000 Covid-19 themed attacks occurs between March 2020 and the end of the year.

This trend seems to continue due to a new global crisis on the horizon: the Rusia – Ukraine war.

Is Richard Branson Invested In The Crypto Trading Or Not?

Fake news, gossip, and the relentless media exploitation of people like Richard Branson are nothing new. It is often not just about scams and hunting for victims, but about clickbait titles that make money based on the number of clicks.

Judging by his blog from 2018, he supports proven and secure investments in bitcoin and cryptocurrencies, while opposing fraudulent schemes.

“Some of the most regular and worrying fake stories currently spreading online are false endorsements of bitcoin trading schemes. While I have often commented on the potential benefits of genuine bitcoin developments, I do not endorse these fake bitcoin stories.”

He has even created his website where people can report suspicious websites and attempted bitcoin scams.

Like it or not, click bytes titles generate a lot of traffic and that is the number one reason why this trend shows a constant growth trend.

The name and character of Richard Benson became a crypto-trading platform that resulted in media confusion.

It can be said that, even though Richard Branson denies investing in cryptocurrencies, the negative publicity that has been created around his name and crypto raiding has also contributed to a healthy interest in the crypto coins.

This kind of media and moral conflict will surely result in cryptocurrencies in the future, investing in them, demystifying, and making them safer for beginners, also as for big players.

Crypto Coin Evolution

Although fake news and unverified information have confused many who have been enthusiastic about bitcoin and crypto investment – there is no doubt that the crypto trading evolution continues.

The crypto trading market is getting stronger and bigger every day. In the theory, crypto coins and crypto exchanges should be safer than standard money investments. Some cryptocurrencies are specific to certain areas, so some are specific to health care, science, or art.

It may seem that cryptocurrency is a luxury trend intended for wealthy people, but that is not entirely true. The best thing is that there are cryptocurrencies for both the middle and lower class with which you can buy and invest in literary everything.

Conclusion

If crypto coins and crypto trading sound tempting to you, and if you think that despite all the scams, you want to give it a try, do some good research first. You should not be scared, but just be patient and think carefully before you invest your money. Also, always be careful when disclosing personal information.

You can always check the platform you plan to give money to. Also, if you happen to be deceived, contact organizations that deal with this type of fraud.


Remember that Richard Branson, Bill Gates, or Elon Musk will never contact you in person to discuss business investments. That will never happen, especially not via Facebook or Twitter.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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