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New Crypto Scam Uses Martin Lewis For Fake Endorsements




Bitcoin Evolution

Bitcoin trading has steadily been gaining popularity among crypto enthusiasts as well as more savvy investors. This has not escaped the eye of various scammers who are using the new virtual currency as a proverbial fig leaf in order to conceal their get-rich-quick schemes. Such is the case with the Bitcoin Evolution scam and Martin Lewis (UK celebrity and socialite) who is constantly being used these days for promotional purposes. The Bitcoin Evolution software is a part of a network of websites which have been copied dozens of times and exist in multiple versions. This explains in part why it has gained a questionable reputation among leading review sites specializing in exposing crypto scams.

How Does The Scam Work?

Viewers are exposed to various click-bait ads after searching for terms related to Bitcoin or cryptocurrencies. After clicking the advertisement, they are automatically redirected to a fake news website based on their geographic location. For example, if you are in the UK then you will be redirected to a fake “Mirror” news site for example. This fake news site is full of links, and if you click them you are redirected once more to the actual Bitcoin Evolution website. If you choose to believe the hype and signup, you will in effect be registering for an offshore CFD (contract for difference) broker.

What Are CFD’s?

CFD’s are derivatives or financial instruments that can be purchased or sold by traders. They can include currencies, stock, bonds, indices, or commodities such as gold or crude oil. Derivatives carry an amazingly high degree of risk, and if you are a novice trader your chances of generating profits are pretty much non-existent. But the risks involved in trading online are not mentioned anywhere on the website, only the potential benefits. And that is the most misleading and deceptive aspect of the scam.

Martin Lewis Is Angry

Martin Lewis is not the type of guy to let things pass, and he has been known to make a lot of noise in similar cases. In fact, he is suing Facebook for letting advertisers use his image and reputation without consent. His Twitter account is full of warnings designed to alert his viewers and members in regard to scams such as Bitcoin Evolution.

Tips That Help You Stay Safe

The internet is ripe with crypto scams of different kinds. Pyramid Schemes, HYIP’s, Ponzi Schemes, and Forex scams are just a few that come to mind. As is the case with everything, the first rule of thumb to remember is “if it’s too good to be true it usually is”. Secondly, it is always a smart idea to do some research online before you invest in anything. Finally, if you are not sure ask a friend, family member, or anyone you trust.

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