The ubiquity of handheld devices and easy access to the Internet help users get easy and quick updates from social media. Generally, people share information with their friends and groups without inspecting the posts’ veracity, which causes false information propagation in the network. Moreover, detecting false news and rumors in such a massive load of unstructured information is a very tedious task. Results, many literature papers explored different machine learning and deep learning approaches to detect the presence of rumors on social media networks. Although detection of misleading news and rumors is not sufficient, therefore, we have proposed a model for the detection and prevention of transmitted rumors in this paper. In this paper, we use blockchain technology to verify the credibility of information and design a framework with four layers: network layer, blockchain layer, machine layer, and device layer, to prevent the propagation of rumors in the network. We also use deep learning techniques to identify the anomalies in the network. The Bi-directional Long Short Term Memory (Bi-LSTM) model is used to prevent the introduction of new rumors by continuously monitoring incoming messages in the network. The experimental results demonstrate that the proposed Bi-LSTM model outperforms state-of-the-art machine learning methods and recent baseline work. Performance is compared over different metrics such as accuracy, precision, recall, f1-score, and specificity. Experiment results show that our Bi-LSTM model outperforms all the other approaches and achieved 99.63 % accuracy. Additionally, the probability of incorrect detection is significantly low with only 0.13% false positive.