In the past four months, the National Cybersecurity Center (NCSC) has removed more than 300,000 URLs related to fake investment opportunities recommended by celebrities. More than half of these sites belong to fraudulent cryptocurrency investment programs.

More and more of these scams were using fake endorsements from local celebrities like Ed Sheeran and Richard Branson, according to an advertisement released on August 14th by NCSC. This threw red flags to the authorities and unleashed a widespread campaign of revenge.

Kiaran Martin, CEO of NCSC commented:

“These investment scams are a stark example of the ways that cybercriminals are now trying to defraud people. We are making them visible today not only to raise public awareness, but to show the criminals behind them that we know what they are doing and are taking steps to prevent it.”

In Australia, the Australian Securities and Investments Commission (ASIC) issued a similar warning. They’ve also asked people to be wary of celebrity-recommended Bitcoin (BTC) scam sites.

Cointelegraph recently reported that the UK Advertising Standards Authority (ASA) and Internet Advertising Bureau (IAB) have introduced a new system to detect and remove fraudulent ads online.

Source: CoinTelegraph