Beware of Fake News and Scams: How Ratan Tata and TIMES NOW Debunked a Viral Cryptocurrency Hoax

 

Recently, a fake and morphed image of a tweet by Ratan Tata, the chairman emeritus of Tata Group, went viral on social media. The image claimed that Ratan Tata had made a huge investment in cryptocurrency and had urged his followers to join him. The image also had the logo of TIMES NOW, India’s most watched English news channel, implying that it was a screenshot of a news report.

However, both Ratan Tata and TIMES NOW have issued clarifications on their official Twitter handles, denying any association with the fake tweet or cryptocurrency. Ratan Tata wrote, "I request netizens to please stay aware. I have no associations with cryptocurrency of any form." He also shared an image that said, "This is an extremely important announcement. If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens."

TIMES NOW also tweeted, "We emphatically clarify that this is a fake and morphed image and a failed attempt at maligning the credibility of Times Now." The channel also urged its viewers to not fall prey to such fraudulent claims and to verify the source of any information before sharing it.

This is not the first time that Ratan Tata has been targeted by fake news peddlers. In 2020, he had to bust another fake news that attributed a quote about the impact of the novel coronavirus on the Indian economy to him. He had said, "This post has neither been said, nor written by me. I urge you to verify media circulated on WhatsApp and social platforms."

Similarly, Anand Mahindra, the chairman of Mahindra Group, had also been victim of a fake news report that claimed that his latest investment in cryptocurrencies had left “banks terrified” and “experts in awe”. He had clarified, "This would be highly amusing if it wasn’t so unethical &, in fact, dangerous. Someone saw this online & alerted me. I need to make people aware that this is completely fabricated & fraudulent. Takes fake news to a new level. Ironically, I’ve not invested a single rupee in cryptos."

The rise of fake news and misinformation on social media platforms poses a serious threat to the reputation and credibility of individuals and organizations. It also creates confusion and distrust among the public and can have harmful consequences for society. Therefore, it is important to be vigilant and responsible while consuming and sharing information online. Always check the source and authenticity of any news or claim before believing or spreading it. Do not fall for sensational headlines or clickbait ads that promise unrealistic returns or benefits. Report any suspicious or malicious content to the authorities or the platform administrators.

Cryptocurrency is a volatile and unregulated domain that involves high risks and uncertainties. While some people may be genuinely interested in investing or trading in it, others may use it as a tool to scam or defraud unsuspecting victims. Therefore, it is advisable to do your own research and due diligence before entering into any transaction involving cryptocurrency. Do not rely on hearsay or rumours from unverified sources. Seek professional advice from experts or reputable platforms if you are unsure or have doubts.

Remember, if something sounds too good to be true, it probably is.

I hope this blog helps you understand the issue better and educates you on how to avoid falling for fake news and scams related to cryptocurrency. Thank you for reading! 😊