On Friday, Berkshire Hathaway Inc. warned that a crypto exchange website is using its name. The company revealed that it came to their attention that there is an entity using the name Berkshire Hathaway, and clarified that the entity has no affiliation with Berkshire Hathaway Inc. or its Chairman & CEO, Warren E. Buffett.
The landing page of the crypto site in question suggests that it is a bitcoin exchange. The website’s front page details, that Berkshire Hathaway is a Texas-based company made to offer their investors the opportunity to acquire a completely passive income from investment in cryptocurrency mining.
The website advertises- You will get profit every day on an ongoing basis.
Company’s CEO Warren Buffett and Vice Chair Charlie Munger are both bitcoin and crypto skeptics. Buffett once said that cryptocurrency is rat poison squared.
Munger has viewed bitcoin as rat poison and contrary to the interest of civilization. He even compared Bitcoin to venereal disease. In July, he suggested avoiding bitcoin as if it were an open sewer, full of malicious organisms. In addition, the Berkshire Hathaway executive also mentions that governments should ban cryptocurrencies.
The Berkshire Hathaway crypto exchange website shows many signs of being a scam, similar to several schemes that many news media previously warned about like- Bitcoin Revolution, Bitcoin Era, Bitcoin Superstar, and Bitcoin Loophole.
For instance, the platform has an upfront cost. The site lists 7 investment plans costing between $1,000 & $70,000. Each plan claims to enable users to invest and earn up to a specific amount. The plans also confirm that users will profit every day on an ongoing basis. The website also shows a list of users who apparently made tons of money utilizing the system.
The contact address listed on the website is associated with a single-family home, and no phone number is listed. In fact, the contact email makes use of the web address of Warren Buffett’s Berkshire Hathaway.
The site also says that it is regulated by several financial authorities, including the U.K. Financial Conduct Authority (FCA), the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), and the Cyprus Securities and Exchange Commission (CySEC). Regardless, the Berkshire crypto website is not listed on any of the above-mentioned regulators’ approved lists.
Many regulators worldwide have cautioned that scammers regularly falsely claim to be registered with them and the funds uploaded to any of these websites are most likely to disappear.
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