There are numerous examples of ICOs which were purposely designed to steal money from investors. A great example of this is BitConnect which was accused of being a pyramid scheme right from the start, but people still fell for it and lost large sums of money. However, the most effective and controversial ICOs are the ones who are endorsed by celebrities.

ICOs Endorsed by Celebrities

There have been a couple of ICOs that were endorsed by celebrities along the years and to no one’s surprise, they all fell through or were proven to be pyramid schemes.

The reason why this is happening is because simply put, it works. People associate the ICOs with the celebrity’s status and think that it’s safe and that it will succeed. Well, this is exactly what Steven Seagal is doing right now.

Steven Seagal Endorses Biitcoin

Right from the start, we need to mention that the name of the ICO which Steven Seagal is endorsing is called “Biitcoin” and if this isn’t shady, then we don’t know what is. The news of his endorsement came through Twitter where Steven Seagal has hundred thousands of followers.

This is what Steven Seagal said over Twitter regarding the new ICO: “Steven Seagal has just become the worldwide ambassador for he Bitcoiin 2nd Generation crypto currency”. To make things even more controversial, Steven Seagal also added a special reference code that people can use in order to help him make more money.

Bitcoiin 2nd Generation

The ICO Steven Seagal is promoting is said to be built on Ethereum’s blockchain. In addition, the ICO will also feature a mining component by partnering with a company that’s known as Dragon Mining.

Things get even more interesting because the developers who are behind this new ICO are not shy from offering affiliate rewards to people who manage to bring other investors to the ICO. This is the same tactic that the developers of BitConnect used.

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