Berkshire Hathaway has issued a warning that there is a fraudster posing as the company, using the insurer’s name to make a profit – but instead of through fraudulent insurance sales, the website is hawking cryptocurrency “deals.”
The real Berkshire Hathaway issued an official statement on November 18, noting that it was made aware of the phony company that afternoon. Berkshire Hathaway has also pointed out that the impostor is using the web address ‘berkshirehathawaytx.com;’ a URL the actual company does not use.
“The entity who has this web address has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett,” Berkshire Hathaway said in its official statement.
Insurance Business has investigated the ‘berkshirehathawaytx.com’ website, finding that the site bills itself as a “bitcoin exchange” that is “based” in Texas. Statements on the website also claim that its version of ‘Berkshire Hathaway’ is a ‘global CFD and FX broker’ that is ‘regulated’ by various authorities both federal and international.
The fake Berkshire Hathaway offers various cryptocurrency “investment plans” at different tiers, ranging from “Bronze” (invest $1,000 - $5,900 for 20% daily returns), “Silver” ($6,000 for 50% daily returns), and all the way to “Gold” (invest $10,000 to receive $20,000). It also offers “unlimited support” for customers through 24/7 chat.
Information on the website also claims that this “Berkshire Hathaway” entity is based in Montgomery, TX. When the address on the website is put through Google, the search returns an empty lot in a residential location.