Ratan Tata Dismisses Investment in Trading App or Crypto Links as ‘Untrue’ and Denounces Them as a ‘Scam’.
Above picture shows and claims Business tycoon Ratan Tata, who recently celebrated his 86th birthday, made a surprising announcement that has caught the attention of many online users.
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In a special interview and on Twitter, Tata shared details about his latest venture, the Bit GPT App. He has invested a whopping 5,000 crores in this project, believing it will bring a significant transformation to India’s economy.
The Fake ad also boasts…
Notably, Tata has made access more inclusive by reducing the minimum entry threshold from ₹36,000 to ₹21,000.
Ratan Tata Exposes Cryptocurrency Scam, Denounces False Reports on social media.
In response to the rising tide of fake news and fraudulent schemes linked to apps and cryptocurrencies, business magnate Ratan Tata, Chairman Emeritus of the Tata Group, took to Twitter and Instagram to debunk misinformation surrounding his alleged cryptocurrency investments.
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In a firm statement, Tata declared, “This is an extremely important announcement. If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens.
Tata proceeded to reveal an example of a misleading news report that falsely asserted his involvement in cryptocurrency investments.
Aloft, the headline read: “Analysis: Ratan Tata’s recent investment has experts in disbelief and major banks concerned.”
In his social media posts, Tata urged netizens to stay vigilant and steer clear of such fraudulent schemes, reiterating, “I have no associations with cryptocurrency of investment in any gptapps of any form.”
He also highlighted specific organizations that had erroneously reported on this matter.
I request netizens to please stay aware. I have no associations with cryptocurrency of any form. pic.twitter.com/LpVIHVrOjy
— Ratan N. Tata (@RNTata2000) June 27, 2023
Anand Mahindra Addresses False Cryptocurrency Investment Claims with Swift Response
Anand Mahindra, the Chairman of the Mahindra Group, found himself in a similar predicament a couple of years ago when a fake news report falsely asserted substantial investments in cryptocurrencies on his part.
Responding promptly to these baseless claims, Mahindra expressed his disdain for the fraudulent nature of the report.
In a tweet dated November 19, 2021, he stated, “This would be highly amusing if it wasn’t so unethical and, in fact, dangerous. Someone saw this online and alerted me. I need to make people aware that this is completely fabricated and fraudulent.
Highlighting the irony of the situation, Mahindra affirmed, “Ironically, I’ve not invested a single rupee in cryptos.
We tried to find out that who made these kinds of ads and how and why?
With lots of research, we found that the story does not end with the ads. There is rising threat scammers exploit using Artificial Intelligence (AI). They lure and trap investors into these apps to deceive and steal money.
When clicked, the above ad led to the following site
Rising Threat: Scammers Exploit AI Investment Hype to Deceive and Steal from Investors
The escalating trend of AI investing, which employs sophisticated software and algorithms to analyze market trends and predict outcomes based on historical data, has become a prime target for scammers.
Exploiting the excitement around AI, these fraudsters are leveraging deceptive tactics to trick investors and abscond with their funds.
Surge in Investment Scams Exploiting AI Technology
The scammers preying on investment platforms incorporating mobile AI investing apps, AI trading bots, and AI-infused website designs.
Scammers are capitalizing on this trend, specifically in the realm of AI-based investment schemes.
Reports are noted that indicate a rise in fraudulent activities that falsely claim to utilize artificial intelligence to generate unrealistically high profits, especially in the context of crypto trading.
Echoing these concerns, the government should take steps to develop anti-scam technology or bring about strict norms issued to institutions or individuals using AI keeping in view the concern about the escalating threat of investment scams leveraging AI technology.
The potential use of deepfakes by scammers, enabling them to manipulate content and deceive individuals into investing in entirely fictitious schemes.
Investors are advised to exercise heightened vigilance and skepticism in the face of such fraudulent activities.
