Berkshire Hathaway has issued a warning about fraudsters impersonating the company and profiting off insurance companies — but the site isn’t selling fraudulent insurance, it’s peddling cryptocurrency “deals” .
The real Berkshire Hathaway issued an official statement on November 18 stating that it knew about the fake company that afternoon. Berkshire Hathaway also noted that the URL used by the imposter was “berkshirehathawaytx.com;” a URL not used by the actual company.
“The entity that owns this website has no relationship in any way with Berkshire Hathaway. Or its Chairman and Chief Executive Officer, Warren E. Buffett,” Berkshire Hathaway said in a statement. in its official statement.
Insurance Business investigated the website “berkshirehathawaytx.com” and found that the site billed itself as a “bitcoin exchange” “headquartered” in Texas. The statement on the website also claims that its version of “Berkshire Hathaway” is a “global CFD and foreign exchange broker” that is “regulated” by various federal and international agencies.
The fake Berkshire Hathaway company offers different levels of “investment plans” for various cryptocurrencies, from “Bronze” ($1,000 to $5,900 invested, 20% daily return), “Silver” ($6,000 invested, 50% daily return), all the way to “gold” ($20,000 for a $10,000 investment). It also offers “unlimited support” to customers via 24/7 chat.
Information on the website also claims that this “Berkshire Hathaway” entity is based in Montgomery, Texas. When the address on the website was entered through Google, the search returned a vacant lot in a residential area.