Network Ten sounds warning about fake Shark Tank Bitcoin ads
Tuesday, May 15, 2018/
Network Ten says it will take action to warn viewers about a series of scam advertisements claiming Shark Tank investors are associated with Bitcoin and cryptocurrency trading platforms.
Earlier this year, entrepreneur Steve Baxter drew attention to the ads by sharing an ad on The World of Fame website, which included an article claiming that Baxter and fellow Shark Tank investor Glen Richards took part in a “bidding war” to invest $2.5 million for a 20% stake in cryptocurrency business Bitcoin Trader.
The story was a fake and the deal never happened, but the promotions also included fake quotes from the sharks about cryptocurrencies and Bitcoin Trader.
On social media this week, viewers have pointed out a range of other suspicious online ads that include images of the sharks endorsing Bitcoin offers.
— vance (@DoctorVance) May 14, 2018
Shark Naomi Simson took to Twitter earlier this week to say the ads are “a complete scam” and she has asked Facebook and Google to remove them.
It’s a complete SCAM we have reported to Google and Facebook to fix https://t.co/UNzDgPTdHA
— Naomi Simson (@NaomiSimson) May 12, 2018
Season four of Shark Tank airs tonight at 8:30pm. This morning, the Network Ten confirmed to SmartCompany it is aware of the ads and will be warning viewers to steer clear.
“Network Ten is aware of the recent internet scam incorrectly advertising the sharks from Shark Tank endorsing Bitcoin Trader,” a spokesperson for the network said.
“The ad is completely false and misleading. Network Ten has ensured that all Shark Tank social media sites, the official website and tenplay exhibit clear warnings cautioning viewers and potential consumers of the scam.”
A cultural war: What Hayne's report means for fintechs, accountants and small-business lending Charlotte Petris Timelio founder
In a perfect world: Canva's Melanie Perkins dreams about the future of Australian startups Melanie Perkins Canva co-founder
Swipe right for (data) validation: What dating apps can teach us about data security Leah Callon-Butler intimate.io co-founder
How do Australian startups tap into the $140 billion of dry powder sitting in the US? Andrea Kowalski Bailador partner
No silver bullet: Four steps to find the perfect sales and marketing channel for your startup Vinne Schifferstein Vidal Botown founder
Buzinga to Appster: An insider's theory on why the app giants keep falling Joseph Russell DreamWalk Apps co-founder
Got brand goals? The four most marketable sports of 2019 Andrew Montesi Pickstar head of marketing
What founders can do now to prepare for a possible 2019 recession Les Szekely EVP co-founder