Virgin Galactic Boss Richard Branson Wants To Eradicate Cryptocurrency Scammers

Billionaire Richard Branson. (Between)

JAKARTA – Billionaire and founder of rocket airline Virgin Galactic, Richard Branson announced that he would take various steps to prevent crypto fraudsters (scammers) from taking action. The reason is that scammers use the name Branson to ensnare crypto investors and traders.

The scammers took advantage of his name knowing that Branson supports cryptocurrencies. They also produced a number of fake articles that led people to think that Branson was promoting fraudulent investing. The article they wrote urged investors to allocate their funds.

Knowing that his name is being used by con artists, Branson vows to do everything he can to stop this evil act. According to him, this crime can bring havoc because it has ensnared crypto investors from the lower middle class.

“This is a terrible thing because it affects little people who can't afford it. We are doing various ways to stop it (the fraud)," said Branson.

The Virgin Galactic boss is not playing around in eradicating the scammers. He has hired Meta COO, Sheryl Sandberg to address the fraud issue. Branson also appointed a number of lawyers to examine other social media platforms where the fraudsters carried out their actions.

Richard Branson is not the only one targeted by crypto scams. The scammers had used the name Elon Musk to launch their actions. One of the founders of Apple, Steve Wozniak, had become a victim for their actions. Wozniak then took the fraudulent act in his name to the courts of law, but the judge ruled that Wozniak's argument was not sufficient to win the case.

Branson himself once stated that he would only invest “a small amount of money into Bitcoin.” Until now the crypto market is experiencing a decline in price. The top two cryptocurrencies, Bitcoin and Ethereum, should tumble 26 percent and 32.8 percent in the past week according to Coingecko data.