Holly Willoughby Bitcoin Interview: Is it a Scam or Legit?
- Holly Willoughby, a well known TV personality and author, is not trading Bitcoin but it seems that scammers are using her celebrity reach to fool investors.
- Scammers are using Holly Willoughby’s name to promote Bitcoin via ads on social media, search engines, or spam emails to attract victims.
Early adopters of Bitcoin have made massive wealth, and it doesn’t appear that this pattern will soon come to an end. However, The rise in popularity of cryptocurrencies has coincided with the increase in frauds in the market.
Recently, scammers are promoting get-rich-quick schemes using the name and reputation of English television presenter, model, and author Holly Willoughby.
While many times, scammers use ads on social media, search engines, or spam emails to attract victims, they occasionally include phony celebrity endorsements that state the star made millions of dollars trading Bitcoin through a fake CFD broker. Recently, these fraudulent advertisements have taken the form of fake stories describing falsified interviews with Holly Willoughby, the co-presenter of ITV’s This Morning.
Holly Willoughby Scam
The British daytime magazine program This Morning, which broadcasts on ITV every weekday, is a popular show with a variety of segments like beauty, health, and lifestyle.1988-debuted TV show has over a million viewers every day and currently features Holly Willoughby and Phillip Schofield as the main hosts.
Scammers have used Holly Willoughby and the name of the show to publicize their scams due to this large audience. People believe the fake article, which purports to be from This Morning, to be credible when they come across it. Images from Akshay Ruparelia’s real interview on This Morning are used in one fake news piece in the UK Mirror.
Manipulated Fake News Stories
Interestingly, the subject of the actual interview was how Akshay became the youngest millionaire in the UK and how his internet real estate business helped him achieve that status. However, according to the fake article, Willoughby and Ruparelia thoroughly discussed his huge monthly earnings from trading Bitcoin on auto-pilot. The fraudsters assert that the UK’s youngest millionaire earns £23,000 per month as a result of a particular system’s cutting-edge algorithms.
Scammers frequently promote fake news stories, some of which are still very active. For some reason, perhaps to prevent any attempts to verify the claim, the advertiser chose Willoughby. As a result, the fraudsters are reaching out to as many people as they can by falsely exploiting the reputations of Willoughby, This Morning, and ITV.
Notably, these articles lack factual information with no proof of any practical trading algorithms capable of producing unrealistic benefits. Professional financial analysts could quickly confirm the effectiveness of such an algorithm. They would invest all of their funds in it if they were able to find one that could produce the promised results.
Evidently, unethical affiliate networks are responsible for these types of fraudulent advertisements. Users who engage with these fake articles and adverts are taken to a broker’s website, where they are misled into believing they have been given a legitimate chance to buy Bitcoins or other cryptocurrencies. However, the dishonest affiliate networks that are responsible for the false ads don’t have good intentions.
Many different cryptocurrency trading robots such as Immediate Edge and Quantum AI are often used by scammers alongside fake advertisements to trick people. The scammers set up fake copies of these legitimate trading robots in an attempt to lure the user into thinking they are joining the official platform, when they are actually signing up to a scam website. This has ultimately harmed the reputation of these legitimate platforms.
Celebrities Are A Common Target
This isn’t the first time a celebrity has been used in a scam advertisement related to Bitcoin and cryptocurrency isn’t the only thing scammers are targeting, they are also using fake celebrity endorsements for weight loss and skincare offers too. Below is a list of other celebrities that have been used in fake advertisements attempting to scam innocent people out of their money in the United Kingdom:
- Deborah Meaden (Dragons’ Den)
- Peter Jones (Dragons’ Den)
- Martin Lewis
- Bear Grylls
- Holly Willoughby
- Gordon Ramsay
- Jamie Oliver
- Elon Musk
Fraudulent brokers are selling Contracts for Difference
Contracts for Difference (CFD), a derivative asset tied to the price of cryptocurrencies, is being sold by the brokers. They are comparable to stock market futures trading. In contrast to real cryptocurrency, the CFDs offered by the fraud brokers in the Holly Willoughby Bitcoin Scam are merely agreements made with untrustworthy individuals.
The uneducated investors get attracted to the so-called advanced algorithm for “automated trading” along with the apparently reliable reputation of Holly Willoughby and end up getting trapped in the swampy land of scams.
A company that created such a sophisticated algorithm would not have to steal hundreds or thousands of dollars from people using fake celebrity endorsements on social media platforms. Investors should refrain from buying Bitcoin derivatives based on fake celebrity endorsements these scammers and affiliate networks use to steal funds.