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In many cases, the fake advertorials are convincingly designed to look like pages from the BBC or Mirror websites. Read on to find out how the scam works, how to avoid falling for it, and why Which? To be clear, none of these celebrities are responsible for the fraud, but their images and reputations are being ruthlessly abused by organised scammers.
Clicking on it takes you to a news story on a third-party page, which seems like a respectable news site for investors. It describes how Meaden and her fellow dragons were impressed with a bitcoin investment scheme on an episode of the show.
At the bottom of the page is a web form where you can express interest in joining the investment scheme. Heeding the warnings that the scheme will soon close to new investors, you submit your name, email address and phone number. Over the coming weeks the value of your bitcoin holdings appears to increase, and your investment manager calls you frequently, encouraging you to buy more.
Reassured, you carry on investing. There were 1, cases of cryptocurrency investment frauds reported in the first six months of alone. In the same period, there were reports of investment fraud where celebrity endorsement was specifically cited by the victim as an enabler of the scam.