Fake celebrity endorsements are one of the most popular ways for scammers to lure in victims, and they are using celebrities like Elon Musk, Martin Lewis, Richard Branson, Didi Taihuttu, and more to convince people that their Bitcoin scams are legit.

Every day, countless social media users are greeted by seemingly legitimate ads featuring Jeff Bezos promising a great Bitcoin investment opportunity. However, these ads are put there by scammers with no connections to the well-known founder of Amazon. Instead of providing a real opportunity, these ads direct you to scam websites like Bitcoin Era and countless others, where any money you supposedly invest is simply stolen by scammers.

So many of these fraudulent schemes center on Bitcoin and other cryptocurrencies. They’ve been doing this for years, ever since Bitcoin first arrived on the scene in 2009. Because there aren’t robust regulations around crypto, law enforcement has few tools available to crack down on these scams. That’s why they’re found on just about every platform online and continue to claim victims to this day.

Why Is Jeff Bezos in So Many of These Fake Ads?

These scammers know which celebrities to choose for their fake endorsements to have the greatest effect. They choose Jeff Bezos because he’s incredibly rich from founding the only shopping giant Amazon. Any investor would put a lot of weight on anything he has to say based on his track record of amazing success. Jeff Bezos was formerly the world’s richest man until Elon Musk took that title, so it’s clear to see why people might take his investment advice. 

This is doubly true when it comes to get-rich-quick schemes like Bitcoin 360 AI. We saw a variety of fake advertisements and a lot of sponsored content. However, a quick search for Bitcoin 360 AI review has helped shed light on this latest scheme.

Unfortunately, the scams that these websites lead to aren’t real investment opportunities from Jeff Bezos. Instead, they’re posed as investment opportunities that provide fast returns with no risk, only for anyone who sends money to never see it again. The scammers set people up with high hopes of having found the next exclusive opportunity, but victims soon find out that they’ve lost everything.

Fake Celebrity Endorsements Are Spread All Over the Internet

This specific type of Bitcoin scam has become incredibly widespread, and they aren’t only using Jeff Bezos, either. This same scam and others like it are using other celebrities like Richard Branson, Elon Musk, Martin Lewis, Didi Taihuttu of the Bitcoin Family, and many more in almost identical fake ads. They cast a wide net to catch as many scammers as possible, hoping that someone will trust these fake celebrity endorsements. 

More Online Bitcoin Scams Than Ever Before

The fake celebrity endorsement scam is one of the most common you’ll find, but there are countless other examples to watch out for. Here are some more of the most widespread Bitcoin scams trying to take your money online:

  • Fraudulent cryptocurrency exchanges are set up by scammers to fool unsuspecting victims and make off with their Bitcoin and their payment details.
  • Ponzi schemes are alive and well with Bitcoin today, with scammers propping up an investment scheme by taking money from new investors to pay out old investors.
  • Fake cryptocurrency offerings are very common, with scammers advertising a supposedly amazing new project just to disappear with the money once people have invested.
  • Malware is often found on sketchy crypto websites and could steal your personal details or even access your bank accounts.

What You Can Do to Avoid Bitcoin Scams

With over £190 billion in financial fraud every year in the UK, according to the National Crime Agency, everyone needs to do their part to protect themselves. Whenever you’re considering Bitcoin and other cryptocurrency investments, be sure to follow these simple precautions to prevent yourself from losing everything:

  • Research every opportunity very carefully and check the name of any investment opportunity against online scam reporting websites where victims might already be spreading the word.
  • If you’re investing in cryptocurrencies, do so with registered brokers and trusted exchanges instead of unknown sources that you can’t verify.
  • If an investment opportunity is offering amazing returns without any major risks, then they are likely a scam making promises that really are too good to be true.
  • Never go in for an investment that offers guaranteed returns no matter what. Every investment has some form of risk, and opportunities that say otherwise are surely scams.