Billionaire Richard Branson declares war on cryptocurrency fraudsters

Richard Branson, the founder of the international conglomerate Virgin Group, said he is cooperating with the UK government to fight fraudsters who use his name to promote cryptocurrency pyramid schemes.

«The situation is terrible because it affects ordinary people who cannot afford to lose their savings. We are investing huge amounts of money to stop the publication of fraudulent ads on Facebook and other social networks,» Branson said, adding that his lawyers have been fighting fake videos and illegal advertising of cryptocurrency projects using the businessman’s name for several years.

The billionaire has joined a group of well-known businessmen trying to convince the government to introduce provisions on fraudulent advertising and Internet security in general. The founder of Virgin Group proposed to make the websites that publish such ads responsible for the monetary losses of the company’s clients. Then, Branson believes, corporations such as Meta will more carefully check the information published on their platforms.

According to the UK Cyber Security Center, Richard Branson is on the list of celebrities whose names are most often used by cryptocurrency fraudsters. Most likely, this is due to the fact that Branson has repeatedly spoken positively about bitcoin and called it a tool for smart investments (so his words can be easily used in fake advertising).

In addition to Branson, many famous people are fighting against «cryptocurrency lawlessness» on social media: billionaire Andrew Forrest, Apple co-founder Steve Wozniak (Wozniak filed a lawsuit against YouTube for publishing fake videos in which «he» urged people to take part in a «free» bitcoin giveaway).

The NoWorries editorial team strongly advises you to trust only trusted sources of information and not to invest your own money in cryptocurrency pyramid schemes.