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

Warren Buffett's Berkshire Warns About Fake Crypto Website Using Its Name

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

Berkshire Hathaway Inc, run by billionaire Warren Buffett, on Friday warned investors that it has no connection with a cryptocurrency brokerage website that purports to use the Berkshire Hathaway name.

The website describes its operator as a Texas-based broker established in 2020 to offer investors “the opportunity to achieve completely passive income from investing in mining.” cryptocurrency mining”.

It includes purported customer testimonials and states that the broker is regulated in the US, UK, Cyprus and South Africa, using incorrect names for the two regulatory bodies. Its email format is different from Buffett’s corporate email format.

Buffett has long been skeptical of cryptocurrencies and in 2018 called bitcoin “rat poison squared”.

In a statement, Buffett’s company said it became aware of the website on Friday afternoon.

“This web-addressed entity is not affiliated with Berkshire Hathaway Inc or its Chairman and CEO, Warren E. Buffett.

The site operator did not immediately respond to requests for comment.

Buffett has run Berkshire Hathaway Inc since 1965.

The Omaha, Nebraska-based group owns dozens of companies including railroad BNSF and auto insurer Geico, and as of September 30, owns more than $306 billion in stock.

Recently, cryptocurrencies have come under scrutiny.

This week, US crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange, including NFL quarterback Tom Brady and actor Comedian Larry David, claims that they have engaged in fraudulent activities to sell profitable digital currency accounts FTX.

FTX has filed for bankruptcy and is facing scrutiny from US authorities amid reports that $10 billion in customer assets has been transferred from FTX to trading company Alameda Research. Bankman-Fried.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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