Facebook and Google still aiding “get-rich-quick” scams like The Bitcoin Code

Anyone using Facebook will likely have been exposed to adverts on the platform claiming you can get rich using an instantly profitable money making system. More often than not, these adverts lead to webpages promoting systems such as “The Bitcoin Code”.

Let’s be clear: The Bitcoin Code isn’t real. There is no such thing as “The Bitcoin Code”. It’s not a revolutionary trading platform. It’s not a secret algorithm. It’s not a work-from-home opportunity.

Neither is any other of its countless guises, including The Bitcoin Loophole or Bitcoin Revolution. It’s a scam. Webpages, online adverts and “media articles” (they’re not really media articles) plastered with “The Bitcoin Code” branding have only one single goal: to lure people to unregulated trading broker websites on the promise they’ll make you rich – providing you make a hefty deposit first!

But they won’t make you rich. They’re unregulated for a reason. In fact all the broker websites we were directed to when signing up to “The Bitcoin Code” were all created in the last handful of months. And none of these sites even have anything to do with Bitcoin. Instead they’re just exploiting the popularity of the name along with the reality that most people don’t really understand what Bitcoin actually is (other than it’s a crypto-currency.)

The reality is that such unregulated trading websites (unregulated meaning they play by no rules and can do whatever they please with your money) means there is an extremely high chance that any money you put into these trading platforms will be lost. Especially so if you are not an experienced trader (and experienced traders don’t sign up to these platforms.)

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These sites have been around for years. And for years they’ve been using misleading adverts on social media with fake celebrity endorsements, fake media articles that appear to be from legitimate media outlets and outright false and unrealistic claims about profits.

Yet even after all these years, you’ll still be exposed to these scams on sites like Facebook. And finding out the truth about these scams is still incredibly difficult because search engines like Google still rank the scam websites and fake review websites above anything else.

How Facebook and Google are still letting victims down.

Despite Facebook’s empty promises of ridding its platform of scams, anyone who uses the platform most days will know that is demonstrably untrue. Scams are rife on the platform – more so than ever before – and the social media goliath still refuses to remove them even after they are reported.

Even after being threatened with lawsuits, Facebook still allows the same scam adverts to infiltrate its Sponsored Ads platform, as per this one from this week.

As with many scam ads of this ilk, it leads to a fake article peddling The Bitcoin Code made to look like a BBC news article, plastered with false claims, fake testimonials and plenty of links to The Bitcoin Code website.

Of course, as always, it’s worth mentioning that Facebook make money from these adverts.

But Facebook isn’t the only tech platform at fault here. Google is also guilty of helping facilitate these scams.

We first reported on The Bitcoin Code scam in 2018. So it is perhaps quite perplexing that after so many years, when typing in The Bitcoin Code into Google, the top results show the scam website itself mangled with sites known for fake reviews that are almost certainly authored by the very same people who operate the scam websites.

This is particularly frustrating since we often recommend first doing your research before trusting websites and opportunities, and such research is often conducted using search engines like Google. However if Google is going to promote the scam websites and fake reviews so highly so that they dominated the top of the search results, those doing their research may incorrectly determine that The Bitcoin Code is genuine when this is far from the case.

It is easy to see why so many are still being taken in by get-rich-quick scams that lure victims to unregulated trading platforms when their misleading adverts are allow to proliferate across social media and search engines still promote such scams and obscure the websites exposing them.

Remember this; The Bitcoin Code, or whatever webpage is claiming to be the latest “wealth loophole” or “passive income algorithm” that claims you will be able to get rich easily and quickly, is a scam.

Hopefully Facebook, Google and the other tech platforms still helping out these cybercriminals will take these scams more seriously going forward.