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Billionaire Chris Kirubi Still Grappling with Bitcoin Fraudsters

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Wed, 08/19/2020 - 14:40
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Alex Dovbnya
Yes, Bitcoin scams that flaunt fake celebrity endorsements are still a thing, and billionaire businessman Chris Kirubi continues his fight against them
Billionaire Chris Kirubi Still Grappling with Bitcoin Fraudsters
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Kenyan businessman Chris Kirubi, who boasts a net worth of Ksh40 billion ($400 mln), has once again taken to Twitter to warn his 1.4 mln followers about an intricate cryptocurrency scheme dubbed "Bitcoin Profit" that is exploiting his name and photos to lure in unsuspecting investors.

Kirubi makes it clear that he is "in no way" associated with these types of organizations, claiming that all information published by them is "deceptive."

An old playbook

As reported by U.Today, the tycoon already sounded the alarm over the same sham in March.

Back then, he attached a screenshot of a legitimate-looking article with an excessively exuberant headline about banks being terrified of Kirubi’s latest investment. It is a common anti-establishment trope that is meant to cater to the cryptocurrency audience.

Fake News
Image by @CKirubi

Typically, such made-up stories are published on carbon copies of widely known news websites like CNN and the BBC.

In reality, "Bitcoin Profit" has nothing to do with actual Bitcoin. It is nothing more than an online Ponzi scheme that guarantees its members outsized returns while only offering fake trading software applauded by $10 actors.

Like a slew of other celebrities and businesspeople who have been impersonated by scammers, Kirubi says that only his verified social handles can be trusted:

While I often share investment tips and business advice, this information is shared from my verified social media handles and credible websites.

Related
Bitcoin Trading Sees Explosive Growth in Africa in 2020

Vying for legitimacy

Over the past few years, thousands of Kenyans have been badly burned by numerous cryptocurrency-inspired pyramid schemes, such as "Nurucoin" and "Velox 10," whose operators ended up vanishing overnight.

While such incidents certainly make Kenyans feel more apprehensive about crypto, they still rank among the top Bitcoin holders per capita.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.