Warren Buffett’s Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name

Bitcoin News

The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett.

Berkshire Hathaway Warns About a Crypto Website

Berkshire Hathaway Inc. warned Friday that a crypto exchange website is using its name. “Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway,” the company stated, elaborating:

The entity … has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett.

The crypto website in question is berkshirehathawaytx.com. Its landing page indicates that the company is a bitcoin exchange. “Berkshire Hathaway is a Texas-based company created to give our investors the opportunity to achieve a completely passive income from investment in cryptocurrency mining,” the website’s front page details.

Warren Buffett's Berkshire Hathaway Warns About Crypto Exchange Website Using Its Name
The landing page of the “Berkshire Hathaway” bitcoin exchange website.

The website advertises:

You will get profit every day on an ongoing basis.

Berkshire Hathaway CEO Warren Buffett and Vice Chair Charlie Munger are both bitcoin and crypto skeptics. Buffett previously said that the cryptocurrency is “rat poison squared.”

Munger has called bitcoin “rat poison” and “contrary to the interest of civilization.” He even compared BTC to venereal disease. In July, he recommended avoiding bitcoin as if “it were an open sewer, full of malicious organisms.” In addition, the Berkshire Hathaway executive believes that governments should ban cryptocurrencies.

Typical Scam Website

The Berkshire Hathaway crypto exchange website exhibits many signs of being a scam, similar to several schemes Bitcoin.com News previously warned about, including Bitcoin Revolution, Bitcoin Superstar, Bitcoin Era, and Bitcoin Loophole.

For example, the platform has an upfront cost. The site lists seven investment plans costing between $1,000 and $70,000. Each plan claims to allow users to invest and earn up to a certain amount. The plans also guarantee that users will “profit every day on an ongoing basis.” The website further shows a list of users who supposedly made tons of money using the system.

The contact address listed on the website belongs to a single-family home, and no phone number is listed. The contact email uses the web address of Warren Buffett’s Berkshire Hathaway.

The site also claims to be “regulated by several financial authorities,” including the U.K. Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). However, the Berkshire crypto website is not listed on any of the above regulators’ approved lists.

Many regulators worldwide have warned that scammers often falsely claim to be registered with them. However, funds uploaded to any of these websites are unlikely to be seen again.

Tags in this story

What do you think about the scam crypto site using the name of Warren Buffett’s Berkshire Hathaway to promote its scheme? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Animoca Brands Plans $2 Billion Metaverse Fund to Support Established Projects
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%
FTX reportedly used Alameda’s bank accounts to process customer funds
Binance hires audit firm that served Donald Trump to verify crypto reserves
Bankman-Fried on the hook in Texas, called to appear at Feb. hearing