Fact CheckedLast Updated on December 31, 2022 by Stephan Lindburg
Akshay Phillips Bitcoin Interview – Did Britain’s Youngest Millionaire Make His Fortune Off Bitcoin?
If you recall reading a recent article on how Britain’s youngest millionaire Akshay Phillips has made big money, you’ve read a complete lie meant to lead you to Bitcoin investment scams. While it certainly looked legitimate, affiliate marketers developed the story to bring people into a Bitcoin scammer’s well-laid trap. The article in question has a compelling image of celebrity millionaire Akshay Ruparelia, who the fake report has named Akshay Phillips, on the set of ITV’s This Morning. The picture itself is real, but the interview that took place had nothing to do with Bitcoin or other online investments.
With the ongoing upsurge in Bitcoin’s value, opportunity-seekers are eager to find a way to capitalize. Consequently, people using social media share posts about making money with Bitcoin without verifying the facts that they present. With this in mind, marketers that get a cut of the scam’s takings use fake accounts and paid advertisements to spread their fake news stories. These stories are becoming a major nuisance to social media users, with practically the same fake article appearing multiple times with different celebrity names substituted for Akshay Phillips.
Akshay Phillips Bitcoin: Online Real Estate Mogul’s Interview Repurposed in Fake Ads
In the first place, it’s important to establish that the celebrity in these fake endorsements is Akshay Ruparelia, not Akshay Phillips, as the phony article names him. It’s not entirely clear why the affiliate marketers that made the fake article changed his last name. While it could be a simple case of incompetence, it could also be intentional to drive more traffic. A quick search of Akshay Ruparelia’s name will show anyone that he did not make his fortune trading Bitcoin, obscuring his last means that potential victims won’t find this information. At any rate, it’s more so the tagline “Britain’s Youngest Millionaire” than the name itself that will draw in victims.
Ruparelia became the UK’s youngest millionaire through his ground-breaking online real estate company. The innovative company shifts the real estate model and drastically reduces commission for home buyers and sellers. Holly Willoughby and Phillip Schofield interview Akshay Ruparelia on ITV’s This Morning. However, the talk was about his real estate company and how he developed such a fantastic company at such a young age.
The fake article instead claims that the interview was about a surprising new way to make money trading Bitcoin whilst using a secret loophole. The marketers behind the phony story went so far as to host it on a fake copy of Mirror’s website, further deceiving potential victims. The article claims that Ruparelia makes £23,000 each month trading with a so-called “Crypto Engine.” In reality, the crypto engine websites like Bitcoin Profit, Bitcoin Era, and Bitcoin Evolution are blatant scams that pay the affiliate marketers to deliver them willing victims.
Akshay Phillips Bitcoin: Scam Victims Don’t Receive Promised Investments
The people promoting the fake newsstories receive commissions from the Bitcoin scams, not the victims! These scams are designed to specifically defraud a certain type of uneducated investor. Offshore brokers are willing to pay high referral fees for these investors, and the promoters are the ones who make big money selling CFDs (contracts for differences) on Bitcoin and other cryptocurrencies. Despite what they tell their victims, they aren’t really selling them Bitcoin. Instead, they are required to trade complicated financial assets which carry huge risks. For the most part, the people buying from these scams have no idea what CFDs are or how they work. Without the proper knowledge, the victims are basically sure to lose everything they’ve deposited.
Akshay Phillips Bitcoin Scam: Crypto Engine’s Automated Trading Can’t Deliver
Generally, the target for these scams are people with little to no investment knowledge. These victims generally know that they do not have the experience needed to make a profit trading cryptocurrencies. The scammers convince them to invest by advertising crypto engine technology. In detail, scams like 1K Daily Profit, Crypto Engine, or BitQT claim to have advanced algorithms capable of making perfect trades every time. The only thing required of the clients is to put their money in and watch it go. In addition to being a complete lie, these claims are also completely absurd. While savvy investors know that there is no magic computer program that will print money, hopeful novices convince themselves that they’ve found a loophole in the system they can exploit. Anyone looking to invest in cryptocurrencies would be wise to avoid claims of easy money and fake celebrity endorsements. If you require additional information regarding fake celebrity endorsements, simply leave a message below or message us through our contact page.
