Another day another get-rich-quick scheme! This time its Tesla CEO and Gazillionaire Elon Musk. Our staff has spotted a fake news article claiming that Elon Musk is using a new Bitcoin trading app named “Immediate Xtrade” in order to generate huge amounts of income.
Word to the wise, Elon Musk has nothing to do with Immediate Xtrade, or for that reason any other crypto scheme which may be advertised in Social Media or on various search engines. In fact, the use of fake celebrity endorsements is not a new trend. It is constantly being used in a variety of industries like cryptocurrencies, nutritional supplements, business opportunities, and various investment scams.
In most cases the criminals behind these initiatives are affiliate networks or media agencies who are paid to provide a certain amount of customers or “leads”. Leads are viewers who are exposed to certain content and are receptive enough to register for an offer.
Once these victims sign up, they are approached via phone or mail by aggressive sales representatives who don’t really care about ethical business practices or consumer rights. In fact, the exact opposite is the truth according to our checks.
These people could care less, they simply want victims to invest or buy a certain product. The repercussions of their actions may mean bankruptcy or even eviction in some cases. So play it smart and research before you give your credit card details to some unknown offshore company!
