Leo Varadkar images used in Cryptocurrency hoax adverts

Images of the Tánaiste Leo Varadkar have been used in hoax adverts to promote cryptocurrency. 

The hoax advertisement featured recently on several mainstream websites, including the homepage of the BBC. 

The adverts include a photo of Tánaiste Leo Varadkar with the caption: “Pressure on Leo is increasing. Big banks are chasing him after he revealed his source of income.”

Those clicking the adverts were then directed to pages which purport to be real news websites.

However, none of the ads or articles are endorsed by Tánaiste or have anything to do with him.

He is one of a number of high-profile people who have been used in similar campaigns. 

It is understood that the ads aren’t commissioned by the news websites, but instead come through an advertising ‘open exchange’.

A similar detail throughout these articles is that all forms of money are mentioned in US Dollars, and not Euros.

The risks associated with crypto and 'virtual currencies' have been stressed the Central Bank of Ireland. 

"Consumers are warned about the risks of buying or investing in 'virtual currencies' (VCs), virtual assets and cryptocurrencies. VCs such as Bitcoin and Ether are unregulated VCs that can be used as a means of payment. However, they do not have legal tender status, and are not guaranteed or regulated by the Central Bank of Ireland, or any other central bank in the EU," the Irish Central Bank states. 

Those buying VCs are warned that they are exposed to several risks including "extreme price volatility' and the absence of protection.