Bitcoin Scam: New Zealand’s Prime Minister used as an Endorsement
The New Zealand Prime Minister office confirmed that their PM Jacinda Ardern image has been used in Social media networks for Cryptocurrency scam. Since the crypto market is highly decentralized, more scams are happening every day. The latest trend is to imitate as a personality and grabbing popular cryptocurrencies by doing fake promises of doubling their crypto.
Recently, someone replicated NZ PM Ardern’s social media account for scamming Asian people. To add to the legitimacy, the ads also allege that the New Zealand Treasury has invested approximately NZ$250 million, or ‘50%’ of its currency reserves in a cryptocurrency firm known as Bitcoin Revolution, according to Stuff.
The ads which bore the headline ‘New Investment Plan for Kiwis’ targeted different demographic groups with some of them aimed at those aged between 30 and 45 while others were directed at those aged between 46 and 65.
Late last year, John Key, the immediate former Prime Minister of New Zealand, was also featured on ads that appeared on social media platforms and which claimed that an investment of NZ$1,000 he had made seven years prior had resulted in a NZ$300 million fortune.
Such cryptocurrency scams are a global epidemic, however, and are not restricted to New Zealand. Last month, for instance, the Monetary Authority of Singapore (MAS) was forced to issue a statement warning citizens over a fraudulent bitcoin investment scheme which purported to have been endorsed by the chairman of the MAS and Singapore’s Deputy Prime Minister, Tharman Shanmugaratnam.