A bitcoin funding scheme referred to as “Bitcoin Revolution South Africa” has been gaining a lot consideration these days. Promoters declare that well-known South Africans endorse this platform, together with mining billionaire Patrice Motsepe, comic and actor Trevor Noah, and President Cyril Ramaphosa.
Bitcoin Revolution Invades South Africa
The South African model of the Bitcoin Revolution scheme, merely referred to as “Bitcoin Revolution South Africa,” has lately been closely promoted, with paid evaluations on respected web sites such because the Associated Press News.
Promoters of this scheme declare that the platform is endorsed by well-known South Africans to lure buyers. Celebrities whose names and photographs have been used for this goal embody comic and actor Trevor Noah, President Cyril Ramaphosa, mining billionaire Patrice Motsepe, rugby star Naas Botha, and politician Pravin Gordhan.
The Bitcoin Revolution South Africa web site is nearly equivalent to the unique Bitcoin Revolution web site, which information.Bitcoin.com has already uncovered as a rip-off. The solely key distinction is the addition of the phrase “South Africa” to numerous texts of the location. Bitcoin Revolution South Africa advertises “an automated buying and selling system,” permitting members to earn important revenue working about 20 minutes a day or much less, its web site particulars.
The “Bitcoin Revolution South Africa” web site.
The high of the web site shows the message: “Bitcoin Revolution App South Africa Earn $1300 in [the] subsequent 24 hours with this secret Patrice Motsepe system along with your small funding as we speak.” Motsepe is the founder and chairman of African Rainbow Minerals, who turned a billionaire in 2008.
Another model of the location shows on the high: “You make $13000 in 24 hours utilizing this secret Bitcoin Revolution South Africa system along with your small funding simply as we speak.” The web site additionally claims: “Some members earned their first million inside simply 61 days.” To use the system, nevertheless, customers should deposit $250 upfront.
Similar to Bitcoin Revolution’s web site, the South African model warns that registration will quickly shut resulting from excessive demand. It shows the identical video that options Microsoft co-founder Bill Gates, Virgin Group founder Richard Branson, and different well-known individuals speaking positively about bitcoin. The web site additionally shows faux testimonials and pretend reside revenue outcomes.
A current article encompasses a faux tweet claiming to be from South African President Cyril Ramaphosa stating that this bitcoin funding scheme “is displaying nice promise and has my full endorsement as a wealth system,” Mybroadband journal reported final week.
The journal contacted Google which shows advertisements for the rip-off. A spokesperson for Google instructed the journal that the search engine big eliminated 2.7 billion unhealthy advertisements in 2019. “Because we wish the advertisements individuals see on Google to be helpful and related, we take speedy motion to forestall faux and inappropriate advertisements. We have a device the place anybody can report these advertisements and these complaints are reviewed by our crew,” the spokesperson was quoted as saying.
This shouldn’t be the primary time scammers have used Ramaphosa’s identify and photographs to advertise their fraudulent schemes. An identical system referred to as “Bitcoin Code” claimed that its system was Ramaphosa’s present to South Africans again in 2018. Ramaphosa tweeted on the time that the story was faux. “I’ve by no means mentioned these phrases,” he mentioned. News.Bitcoin.com has beforehand uncovered Bitcoin Code as a rip-off.
Promoters of a bitcoin funding scheme referred to as “Bitcoin Code” claimed that Cyril Ramaphosa endorsed its platform way back to 2018. Ramaphosa mentioned the information was faux.
Some regulators worldwide have warned about Bitcoin Revolution, such because the Philippine Securities and Exchange Commission, which has repeatedly issued warnings about this scheme. The promoters of the South African Bitcoin Revolution scheme additionally promote comparable scams, together with the South African Bitcoin Code, Bitcoin Millionaires, Bitcoin Loophole, Bitcoin Machine, Bitcoin Future, Bitcoin Storm, Bitcoin System, and Bitcoin Era.
Furthermore, the Australian Securities & Investment Commission (ASIC) warned concerning the Bitcoin Revolution rip-off in July. According to the fee, the scheme claims endorsement from native celebrities, similar to “Waleed Aly, Mike Baird, Celeste Barber, Andrew ‘Twiggy’ Forrest, David ‘Kochie’ Koch, Michael Rowland, Dick Smith, Karl Stefanovic and Virginia Trioli.” Other celebrities whose names and photographs have reportedly been used to advertise Bitcoin Revolution embody actors Kate Winslet and Hugh Jackman, TV personalities Simon Cowell and Jeremy Clarkson, and former prime minister of Singapore Goh Chok Tong.
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