Colombian law enforcement authorities recently alerted the public about a Bitcoin scam that targeted social media users. The scammers used a phony website that they claimed the Colombian President Ivan Duque, endorsed.
This platform’s aim was to offer citizens a vehicle to generate income through crypto. Furthermore it was to legitimize the use of digital assets in the country.
One of the main selling points for the scam was that it would provide relief for the ailing Colombian economy during the coronavirus pandemic.
Moreover, the scammers used a photo of prominent YouTube figure Pete Accetturo to legitimize the bitcoin scam. Besides, the featured reviews from fake users who purportedly benefited from the scheme.
One alleged Bitcoin Era investor was a Mexican student named Adán Cortés. He became famous after interrupting proceedings in the Nobel peace prize ceremony in 2014.
Colombians to Be Cautious of Bitcoin Scam Investments
Colombia has emerged as one of the leading nations in South America to embrace cryptocurrency. A survey published recently by Statista.com highlighted that crypto adoption in the country had reached double digits in recent months.
This demand is mainly driven by refugees from neighboring Venezuela. Likewise, the individuals prefer using BTC to send money to their native inflation-stricken country.
Peer-to-peer crypto marketplace Paxful recently brought 20 new crypto ATMs to Colombian cities. The move was to satiate the rising demand for digital currencies
Unfortunately, rampant crypto scams threaten to derail the emerging crypto industry and hinder accelerated adoption.
The recent Bitcoin scam prompted Colombia’s Cybernetic Police Center to urge citizens to be cautious of scams. Additionally, they mentioned that such fraudulent activities stem from supposed BTC investment opportunities.
Con Artists are Using Names of Famous Personalities
It appears that criminals are increasingly devising new ways to trick innocent individuals into giving up their digital assets.
The latest use of the Colombian president in a crypto scam highlights a worrying trend. Bad actors use prominent figures’ names to popularize their scams and gain legitimacy.
In July, a massive Twitter hack of over 130 high-profile accounts allowed fraudsters to siphons thousands of dollars’ worth of BTC in a fake giveaway.
Other similar crypto scams used X-Factor star Rylan Clark-Neal, British TV personality Gordon Ramsey, and famous actor Hugh Jackman in the recent past.