August 10, 2022

One of the most prolific internet scams of recent years has seen the images and reputations of Dragon’s Den stars abused by online fraudsters. Dragons Peter Jones and Deborah Meadon are two of the many celebrities whose pictures were paired with fake quotes to lure people into Bitcoin scams.

Bitcoin is the most famous of cryptocurrencies – a form of digital money which can be bought with other currencies. Cryptocurrencies run on a technology called blockchain, which is considered unhackable, and many believe it will revolutionise economics and finance.

Unfortunately, Bitcoin has been used in number of get-rich-quick scams on websites and social media. Many use fake endorsements by celebrities to trick people in thinking the famous faces have backed the scheme.

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Consumer watchdog Which? warned back in 2019 that links appeared in legitimate websites, directing people to legitimate-looking yet fake advertorials. Victims were encouraged to invest in Bitcoin schemes, initially asked for moderate amounts, which then increased.

Victims reported individual losses of up to £200,000 said Which?. New reports of the scam in its various forms continue to the present day. Deborah Meadon, Peter Jones, Lord Sugar, Simon Cowell, Holly Willoughby, and Ant McPartlin of presenting duo Ant and Dec are some of the celebrities whose images were used by scammers.

Both Peter Jones and Deborah Meadon have warned people of the scam, after they…

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