Dick Smith Bitcoin Interview: Is the Australian Millionaire Making Even More With Bitcoin?
You might have seen a recent string of articles about Australian entrepreneur Dick Smith. They’re all over social media, giving the details of a fake story about an interview with Smith. The fake endorsement from Smith claims that he’s making big money off of a new Bitcoin loophole that anybody can exploit. They promise the same big earnings through their platform, but many buyers are falling into a trap.
Similar stories about many different celebrities are running rampant across the internet. The stories are the work of affiliate marketers that get a cut of the Bitcoin scam’s proceeds. While using the names of trusted and respectable public figures, scammers using fake endorsements hope to get their fingers on the savings of social media users and various opportunity-seekers looking for easy money.
Dick Smith Bitcoin: Celebrated Aviator Has Warned About the Fake Use of His Name and Reputation!
Dick Smith is a famous Australian entrepreneur, and his success in business makes him a prime target for fake celebrity endorsements for Bitcoin scams. He has a current net worth of about $60 million, a figure that implies he knows what he’s doing when it comes to investments. His business ventures have included Dick Smith Electronics, Dick Smith Foods, and Australian Geographic magazine, but he is probably most well known for his adventures in aviation. Smith has set numerous records in aviation. He was the first person to perform a solo trans-Atlantic flight by helicopter in 1982.
In 1987, he became the first person to helicopter to the North Pole. He also performed the first non-stop balloon crossing of Australia in 1993. Smith also has a long history of various practical jokes and stunts. As far back as 1978, he staged an
elaborate April Fool’s prank in which he purported to tow an iceberg into Sydney Harbor as a source of freshwater. He also organized a stunt that inverted a classic stunt from Evel Knievel, jumping a bus over 16 motorcycles.
Dick Smith represents a perfect storm for the people making fake celebrity endorsement articles. He is successful enough to be trusted while being eccentric enough for readers to believe he’s promoting a bizarre financial loophole. Recent fake articles claim to summarize an interview of Dick Smith. During the fictional interview, they say that Smith revealed the secrets of how he’s making tens of thousands of
dollars a day with automated trading. Smith himself is aware of the fake articles, having contacted police to warn them of the scam. He has
commented that the articles are very convincing, accurately crafting statements that sound like they really did come from him. The Australian Securities and Investments Commission has stated that it is aware of the prevalence of fake endorsements for bitcoin get-rich-quick schemes and are doing what they can to combat the scams and raise awareness.
Dick Smith Bitcoin: Complex Crypto Scam With Many Parties Involved
The articles on Smith and countless other celebrities are part of an elaborate affiliate marketing effort. The affiliate marketers are paid by offshore CFD brokers to promote their services, and get compensated based on the number of paying customers they refer. This is no new practice, but it has reached a fever pitch with these latest Bitcoin scams. The marketers develop new ways to make their ads seem more convincing every day, and they have been very successful in reeling in new victims. There are many ways that investment fraud can work. Of course, if a website promises to sell you Bitcoin and really delivers, it wouldn’t be a scam.
But these phony websites are promising their investors hefty returns, when instead they refer them to trade derivative assets which carry a high degree of risk. This is done in order to provide offshore brokers with more control over their clients’ assets and allows them to withhold funds and assets in a more convincing manner. In other words, the affiliate marketers or online promoters are referring unwitting customers to various schemes such as Immediate Edge, and then collecting their profits. We checked this bogus app and were able to find one review site name ScamCryptoRobots.com which explains in detail how the scam works and who is behind it.
Dick Smith Bitcoin Scam: Autopilot Trading Can’t Deliver on Lofty Promises
Once the affiliate marketing network sends a potential victim to the scam website, it’s up to the brokers to seal the deal. The big draw for these scams is autopilot trading. If their victims had the experience and knowledge to trade, they likely wouldn’t be visiting the website in the first place. The scammers say that their system will trade for you, automatically generating profits with no input at all. The crooks are simply lying to get investors to open their wallets. Once the money is in their hands, the scammers won’t let it go so make sure to do your research before investing.