Fact CheckedLast Updated on June 28, 2023 by Stephan Lindburg
Model Kate Moss is among the latest celebs featured in fake endorsements for Bitcoin scams.
There are few (if any) bigger names than Kate Moss in the world of modeling and fashion. However, that fact is being leveraged by Bitcoin scammers hoping that the British model’s name and likeness will attract victims. A variety of social media ads have emerged featuring fake endorsements from Moss for a supposed investment opportunity – but the whole thing is just another Bitcoin scam.
These types of scams have never been a more significant threat, with social media platforms being home to countless fraudulent ads. Social media users are rarely more than a few clicks away from these types of schemes, and the use of big celebrity names makes them all the more enticing. With little progress being made to stop these scammers, more and more victims are losing their hard-earned money.
Why Are Bitcoin Scammers Creating Fake Ads Featuring Kate Moss?
Bitcoin scammers rely on a variety of methods to find new victims. Celebrity endorsements have turned out to be among the most effective, so they rely on them heavily. Make no mistake – Kate Moss is far from being the only example. You’ll find similar fake endorsements from celebrities like Terri Irwin, Natalie Barr, and James Corden all over social media.
Scammers have chosen Kate Moss, in particular, due to her ubiquity in fashion and modeling. Over her 35-year career, Moss has become a true icon. Her name is known all around the world, and her multiple perfume lines have been enjoyed by millions. When people see a familiar name, they’re more likely to follow through. The fake endorsements say that Kate Moss has found an incredible Bitcoin investing opportunity. People know that Kate Moss is incredibly successful, so they put more trust in that claim. However, the claim is entirely false, and Kate Moss has nothing to do with these scammers.
The story about Kate Moss providing an inside look at an exclusive Bitcoin opportunity is made more believable by her real-world involvement in crypto. Moss is one of many celebrities who hopped onto the NFT hype train, debuting her own collection in 2021. The collection Kate Moss: Moment In Time feature three video NFTs which were auctioned to raise funds for the women’s mental health charity GURLS TALK, which was founded by Moss’s associate Adwoa Aboah.
Because people already know that Moss has some involvement in innovative crypto spaces, they are more prone to believe the fake endorsement. Scammers understand this and have designed their scams to exploit it.
What Happens When You Follow These Fake Endorsements?
The social media ads featuring fake endorsements from Kate Moss are just the first stage in a funnel that drives victims toward the Bitcoin scam. If you click on the ad, you’ll be directed to a website where the scammers continue creating a false narrative about Kate Moss and the supposed Bitcoin opportunity.
The website you arrive at is meant to look like a legitimate news website. It will feature a professional and sleek appearance copied from an actual website. They’ll present a fake news story about Kate Moss being interviewed about the Bitcoin investment opportunity, with fake quotes saying that she’s already made millions.
They take pictures of Kate Moss from genuine interviews and put the fake quotes below them, making them look real. The website will also feature a variety of prominent news organization logos to try to look legitimate. However, the supposed interview never happened, and Kate Moss has never endorsed a Bitcoin trading platform. The entire story has been fabricated.
In the final step, victims follow a link to the supposed platform. When they do start investing, they’re simply sending funds to the scammers and receiving nothing in return. The scammers will often call aggressively to get victims to invest more and more, providing them with fake details about their gains. When the victim finally goes to withdraw their funds, the scammers cut contact entirely.
How You Can Stay Safe
These Bitcoin scams have become so prevalent that you shouldn’t trust any ads you see on social media. Platforms do little to nothing to stop them, so you’re more likely to find a scam than a real opportunity. Take anything you read online with a grain of salt, and make sure that you’re dealing with a registered broker or firm before sending money for any investment opportunity.
