A viral cryptocurrency get-rich-quick scheme using the identities and reputation of Ireland’s hit TV series Dragon’s Den promises its victims easy profits and zero risk. If that kind of hype makes you scratch your head and think twice it’s with good reason. The FCA’s (UK’s Financial Conduct Authority) recent statistics have shown that over 80 Million Pounds are stolen from innocent victims over the internet via financial scams such as Binary Options, Ponzi Schemes, and HYIP’s (high yields investment programs).
To add insult to injury, now crafty online marketers are using fake media tactics to peddle fraudulent software online. This is a clear escalation and a strong indication of how much money is being made by victimizing innocent traders and opportunity seekers.
The add shows a couple of friends who are interested in investing in cryptocurrencies who happen to co-stars of the Dragon’s Den TV show. In reality, the people who you entrust your money with are not well-known and reputable actors. A dark network of offshore brokers are the ones who charge your credit card, and these crooks have no qualms or second thoughts about overcharging your Visa or Mastercard.
The main problem with scams such as Bitcoin Trader and Bitcoin Loophole has to do with the fact that inexperienced victims who are clueless about cryptocurrencies and online trading are being targeted and completely manipulated into registering with unlicensed brokers. The amount of confusion and hype which has been amplified by the media only exacerbates an already complex and delicate situation. Especially troubling is the fact that elderly citizens are being targeted and end up losing their ability to pay for medicines and basic necessities. Additional scam tactics also include using fake Facebook profiles, cold calling, and SPAM email marketing.