Bitcoin News and Finance
Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name Skip to main content

Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name

Warren Buffett's Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name

The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett.

Berkshire Hathaway Warns About a Crypto Website

Berkshire Hathaway Inc. warned Friday that a crypto exchange website is using its name. “Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway,” the company stated, elaborating:

The entity … has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett.

The landing page of the crypto site in question indicates that the company is a bitcoin exchange. “Berkshire Hathaway is a Texas-based company created to give our investors the opportunity to achieve a completely passive income from investment in cryptocurrency mining,” the website’s front page details.

The website advertises:

You will get profit every day on an ongoing basis.

Berkshire Hathaway CEO Warren Buffett and Vice Chair Charlie Munger are both bitcoin and crypto skeptics. Buffett previously said that the cryptocurrency is “rat poison squared.”

Munger has called bitcoin “rat poison” and “contrary to the interest of civilization.” He even compared BTC to venereal disease. In July, he recommended avoiding bitcoin as if “it were an open sewer, full of malicious organisms.” In addition, the Berkshire Hathaway executive believes that governments should ban cryptocurrencies.

Typical Scam Website

The Berkshire Hathaway crypto exchange website exhibits many signs of being a scam, similar to several schemes Bitcoin.com News previously warned about, including Bitcoin Revolution, Bitcoin Superstar, Bitcoin Era, and Bitcoin Loophole.

For example, the platform has an upfront cost. The site lists seven investment plans costing between $1,000 and $70,000. Each plan claims to allow users to invest and earn up to a certain amount. The plans also guarantee that users will “profit every day on an ongoing basis.” The website further shows a list of users who supposedly made tons of money using the system.

The contact address listed on the website belongs to a single-family home, and no phone number is listed. The contact email uses the web address of Warren Buffett’s Berkshire Hathaway.

The site also claims to be “regulated by several financial authorities,” including the U.K. Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). However, the Berkshire crypto website is not listed on any of the above regulators’ approved lists.

Many regulators worldwide have warned that scammers often falsely claim to be registered with them. However, funds uploaded to any of these websites are unlikely to be seen again.

What do you think about the scam crypto site using the name of Warren Buffett’s Berkshire Hathaway to promote its scheme? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory