A bitcoin funding scheme known as “Bitcoin Revolution South Africa” has been gaining a lot consideration currently. 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 known as “Bitcoin Revolution South Africa,” has just lately been closely promoted, with paid critiques on respected web sites such because the Related Press Information.

Promoters of this scheme declare that the platform is endorsed by well-known South Africans to lure traders. Celebrities whose names and pictures have been used for this objective embrace 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 sort of an identical to the unique Bitcoin Revolution web site, which information.Bitcoin.com has already uncovered as a rip-off. The one key distinction is the addition of the phrase “South Africa” to varied texts of the positioning. Bitcoin Revolution South Africa advertises “an computerized buying and selling system,” permitting members to earn important revenue working about 20 minutes a day or much less, its web site particulars.

Bitcoin Revolution South Africa: Scam Claims Support by President Cyril Ramaphosa
The “Bitcoin Revolution South Africa” web site.

The highest 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 grew to become a billionaire in 2008.

One other model of the positioning shows on the prime: “You make $13000 in 24 hours utilizing this secret Bitcoin Revolution South Africa system along with your small funding simply as we speak.” The location additionally claims: “Some members earned their first million inside simply 61 days.” To make use of the system, nevertheless, customers should deposit $250 upfront.

Much like Bitcoin Revolution’s website, the South African model warns that registration will quickly shut as a result of excessive demand. It shows the identical video that options Microsoft co-founder Invoice Gates, Virgin Group founder Richard Branson, and different well-known folks speaking positively about bitcoin. The web site additionally shows faux testimonials and pretend reside revenue outcomes.

A latest article incorporates 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 informed the journal that the search engine big eliminated 2.7 billion unhealthy advertisements in 2019. “As a result of we wish the advertisements folks see on Google to be helpful and related, we take speedy motion to stop faux and inappropriate advertisements. We’ve a instrument the place anybody can report these advertisements and these complaints are reviewed by our workforce,” the spokesperson was quoted as saying.

This isn’t the primary time scammers have used Ramaphosa’s identify and pictures to advertise their fraudulent schemes. The same system known 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 stated these phrases,” he stated. Information.Bitcoin.com has beforehand uncovered Bitcoin Code as a rip-off.

Bitcoin Revolution South Africa: Scam Claims Support by President Cyril Ramaphosa
Promoters of a bitcoin funding scheme known as “Bitcoin Code” claimed that Cyril Ramaphosa endorsed its platform way back to 2018. Ramaphosa stated the information was faux.

Some regulators worldwide have warned about Bitcoin Revolution, such because the Philippine Securities and Trade Fee, which has repeatedly issued warnings about this scheme. The promoters of the South African Bitcoin Revolution scheme additionally promote related scams, together with the South African Bitcoin Code, Bitcoin Millionaires, Bitcoin Loophole, Bitcoin Machine, Bitcoin Future, Bitcoin Storm, Bitcoin System, and Bitcoin Era.

Moreover, the Australian Securities & Funding Fee (ASIC) warned concerning the Bitcoin Revolution rip-off in July. In accordance with the fee, the scheme claims endorsement from native celebrities, resembling “Waleed Aly, Mike Baird, Celeste Barber, Andrew ‘Twiggy’ Forrest, David ‘Kochie’ Koch, Michael Rowland, Dick Smith, Karl Stefanovic and Virginia Trioli.” Different celebrities whose names and pictures have reportedly been used to advertise Bitcoin Revolution embrace actors Kate Winslet and Hugh Jackman, TV personalities Simon Cowell and Jeremy Clarkson, and former prime minister of Singapore Goh Chok Tong.

What do you consider Bitcoin Revolution South Africa? Tell us within the feedback part beneath.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Twitter, Bitcoin Revolution South Africa

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any harm or loss prompted or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.

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