A bitcoin investment scheme called “Bitcoin Revolution South Africa” has been gaining much attention lately. Promoters claim that famous South Africans endorse this platform, including mining billionaire Patrice Motsepe, comedian and actor Trevor Noah, and President Cyril Ramaphosa.
Bitcoin Revolution Invades South Africa
The South African version of the Bitcoin Revolution scheme, simply called “Bitcoin Revolution South Africa,” has recently been heavily promoted, with paid reviews on reputable websites such as the Associated Press News.
Promoters of this scheme claim that the platform is endorsed by famous South Africans to lure investors. Celebrities whose names and photos have been used for this purpose include comedian and actor Trevor Noah, President Cyril Ramaphosa, mining billionaire Patrice Motsepe, rugby star Naas Botha, and politician Pravin Gordhan.
The Bitcoin Revolution South Africa website is almost identical to the original Bitcoin Revolution website, which news.Bitcoin.com has already exposed as a scam. The only key difference is the addition of the word “South Africa” to various texts of the site. Bitcoin Revolution South Africa advertises “an automatic trading system,” allowing members to earn significant income working about 20 minutes a day or less, its website details.
The top of the website displays the message: “Bitcoin Revolution App South Africa Earn $1300 in [the] next 24 hours with this secret Patrice Motsepe system with your small investment today.” Motsepe is the founder and chairman of African Rainbow Minerals, who became a billionaire in 2008.
Another version of the site displays at the top: “You make $13000 in 24 hours using this secret Bitcoin Revolution South Africa system with your small investment easily today.” The site also claims: “Some members earned their first million within just 61 days.” To use the system, however, users must deposit $250 upfront.
Similar to Bitcoin Revolution’s website, the South African version warns that registration will soon close due to high demand. It displays the same video that features Microsoft co-founder Bill Gates, Virgin Group founder Richard Branson, and other famous people talking positively about bitcoin. The website also displays fake testimonials and fake live profit results.
A recent article features a fake tweet claiming to be from South African President Cyril Ramaphosa stating that this bitcoin investment scheme “is showing great promise and has my full endorsement as a wealth system,” Mybroadband magazine reported last week.
The magazine contacted Google which displays ads for the scam. A spokesperson for Google told the magazine that the search engine giant removed 2.7 billion bad ads in 2019. “Because we want the ads people see on Google to be useful and relevant, we take immediate action to prevent fake and inappropriate ads. We have a tool where anyone can report these ads and these complaints are reviewed by our team,” the spokesperson was quoted as saying.
This is not the first time scammers have used Ramaphosa’s name and photos to promote their fraudulent schemes. A similar system called “Bitcoin Code” claimed that its system was Ramaphosa’s gift to South Africans back in 2018. Ramaphosa tweeted at the time that the story was fake. “I have never said these words,” he said. News.Bitcoin.com has previously exposed Bitcoin Code as a scam.
Some regulators worldwide have warned about Bitcoin Revolution, such as the Philippine Securities and Exchange Commission, which has repeatedly issued warnings about this scheme. The promoters of the South African Bitcoin Revolution scheme also promote similar scams, including the South African Bitcoin Code, Bitcoin Millionaires, Bitcoin Loophole, Bitcoin Machine, Bitcoin Future, Bitcoin Storm, Bitcoin System, and Bitcoin Era.
Furthermore, the Australian Securities & Investment Commission (ASIC) warned about the Bitcoin Revolution scam in July. According to the commission, the scheme claims endorsement from local celebrities, such as “Waleed Aly, Mike Baird, Celeste Barber, Andrew ‘Twiggy’ Forrest, David ‘Kochie’ Koch, Michael Rowland, Dick Smith, Karl Stefanovic and Virginia Trioli.” Other celebrities whose names and photos have reportedly been used to promote Bitcoin Revolution include 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 think about Bitcoin Revolution South Africa? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter, Bitcoin Revolution South Africa
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