Branson Takes Aim at Crypto Scams That Use His Name as Lure

British billionaire Richard Branson hit out at cryptocurrency scammers and said he’s stepping up efforts to stop his name from being used to convince unsuspecting victims to sign up to fraudulent schemes.

“It’s a terrible thing because it affects a small person who can ill afford it,” Branson said in an interview in Austin, Texas. “We are doing enormous amounts to try to stop it.”

The Virgin Group founder said he has spoken with Meta Platforms Inc.’s outgoing Chief Operating Officer Sheryl Sandberg about erroneous promotions appearing on Facebook, and directed lawyers to confront other social media players whose ...