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Shark Tank Stars Warn Of Bitcoin Scam

Network Ten is still fending off false claims its Shark Tank stars have endorsed a bitcoin trading platform that has been reported to federal authorities.

The claims were carried in a fake story saying Shark Tank investor and Boost Juice founder Janine Allis profited from the platform "within 3 minutes" of it being presented on an episode of the show.

It also falsely claimed fellow Shark Tank investor and entrepreneur Steve Baxter bid $2.5 million for a 20 per cent share of the business.

The item, with false quotes, first appeared in early March and Baxter and Allis both posted warnings on their personal Twitter accounts denying the claims.

The platform never appeared on Shark Tank, nor do its stars endorse it.

But despite the warnings another version of the claims appeared on Twitter last week, and an advertisement appeared this week on the front page of the Brisbane Times website owned by Fairfax Media.

A Brisbane Times spokesman said the ad was generated by a third party and "was inadvertently served on the site. As soon as it was identified as being illegitimate, it was removed".

Queensland Police have not received any complaints but two Victorians made complaints to the federal Australian Cybercrime Online Reporting Network.

The Shark Tank investors and Ten have continually warned the public about the claims.

"Network Ten is aware of the recent internet scam incorrectly advertising the Sharks from Shark Tank endorsing Bitcoin Trader," the Ten spokesman said.

"The ad is completely false and misleading. Network Ten has ensured that all Shark Tank social media sites, the official website and tenplay exhibit clear warnings cautioning viewers and potential consumers of the scam."

Baxter has a pinned tweet on his Twitter page which has been retweeted by Allis.

"SCAM ALERT. None of us invested nor endorse. Thanks to those sending it to us. Please retweet as much as you can if possible. The people running the scam are lower than snakes bums," Baxter tweeted.

The ACCC's Scamwatch received 1289 bitcoin-related scam reports in 2017 with reported losses of more than $1.2 million.

AAP

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