Bitcoin Revolution: Dragons' Den Endorsed?
Bitcoin Revolution and Dragons' Den, the popular TV show, appeared together in online ads. But did the platform really have endorsement from the stars?
Just try Googling 'bitcoin revolution dragons den'.
Celebrities influence their fans. They can influence the buying and investment decisions they make. Crypto scammers know this and keep inventing new ways to scam unsuspecting people of their hard-earned money.
The latest tactic in the books is the alleged endorsement of Bitcoin Revolution by Dragons' Den stars.
In February 2022, a 75-year-old woman lost more than £30,000 to the Dragons' Den Cryptocurrency scam. The scam uses faked quotes from the entrepreneur, Deborah Meaden, a star of the TV Show Dragons' Den.
The scam takes advantage of well-known and influential stars to post faked quotes encouraging investing in cryptocurrency for quick returns. While these stars have nothing to do with the Dragons' Den scam, UK social media users continue falling for online scams that lose them tens of millions of pounds every year.
Another star the crypto scam exploits is Peter Jones, an English businessman, entrepreneur, and star of Dragons' Den.
The Dragons' Den scam also uses Theo Paphitis, a retail proprietor and entrepreneur who makes appearances on the Dragons' Den show.
Other celebrities included in the alleged investor list include:
• Duncan Bannatyne • Richard Farleigh • Touker Suleyman • Doug Richard • Rachel Elnaugh • Simon Woodroffe • Sara Davies • Tej Lalvani
Bitcoin Revolution Explained
Bitcoin Revolution, an automated cryptocurrency trading platform, was designed to allow beginner and advanced users to trade digital currencies, including Bitcoin, Ripple, and Ethereum.
The platform claims an 88% average win for its users. It is based on an algorithm that scans and analyses offers from various users and presents the results in a simplified view.
Before signing up, users are expected to deposit a balance of 250 pounds to activate the auto trading function. This function completes the trades automatically for the user.
Dragons' Den Stars' Endorsement
Many articles and social media posts claim endorsement of Bitcoin Revolution by Dragons' Den stars and other celebrities and business moguls. These claims of endorsement have met with backlash from the said stars. In a tweet, Meaden alerted her users about the scam, saying, “Fake ads using Dragons' Den and myself as clickbait then directing to a Bitcoin site are a scam. Don't click or it feeds the ugly and DEF don't give them money.” Regarding the claim of his endorsement of Bitcoin Revolution, Peter Jones said: "It’s a complete SCAM & my legal team is on it now." Mr. Jones expressed his opinion following an alert of claims that he had bought 20% as a bitcoin trader.
Bitcoin scams continue to expand and reach more people through false information and advertising. The UK government has made steps to protect its citizens by adding a legal duty to prevent popular social media platforms from allowing paid-for fraudulent adverts from appearing on their platforms. In addition, the government is working on measures to tighten the requirements for the online advertising industry to create a safe, transparent, and accountable ad market.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.