In a recent tweet, he said, “I request netizens to please stay away. I have no association with cryptocurrency of any form”.
Along with that, he also shared a screenshot of a news article on Instagram, where Sir Ratan Tata said, “If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens”.
Fake news circulated in 2015 claiming that Abra, a Silicon Valley-based Bitcoin startup, had raised $12 million from Ratan Tata and American Express. The report also stated that the specific amount Ratan Tata invested in Abra remained undisclosed.
This is not the first instance where scammers have exploited the names of high-profile celebrities to deceive unsuspecting individuals. In 2021, a similar news report falsely claimed that Mahindra Group Chairman Anand Mahindra had invested in cryptocurrencies. However, Mahindra later clarified that the article was misleading, asserting that he had not invested a single penny in cryptocurrency.
Another in July 2022, the official British military Twitter account, which had 363k followers, inadvertently retweeted a series of posts promoting a fraudulent non-fungible token (NFT) scam. These posts were later removed by Twitter. Additionally, the scammers had altered every aspect of the account, including the profile picture and cover images, to resemble NFT collections.
Therefore, It is crucial to conduct thorough research before investing in cryptocurrencies, avoiding being swayed by anyone’s influence. Scammers exploit high-profile names, so individuals should verify information, seek expert advice, and understand the risks to make informed decisions.