Crypto 'Giveaway' Scams Continue to Flourish on YouTube
Cryptocurrency scams continue to appear on YouTube, misusing content from influential people in the space and stealing from the gullible.
Crypto scams on video hosting platform YouTube are continuing to prey on unsuspecting victims.
- The "giveaway" scams are based on the promise of doubling one's funds after send an initial amount to a wallet address via QR code.
- Victims, in fact, receive nothing in return and lose the crypto they sent.
- In separate videos, which have since been removed by YouTube, both Buterin and the Winklevoss twins can be seen talking on stage, praising the benefits of their projects.
- The video grabbed for one of the scams featuring Buterin appears to be taken from an Ethereum event held in London earlier this year.
- YouTube has been under fire from Ripple Labs and CEO Brad Garlinghouse, who are suing over allegations the social media giant fails to police its platform against fake XRP giveaway scams.
- YouTube frequently blocks cryptocurrency-focused accounts that are not scams. The firm has previously said errors occur because of the sheer volume of content it has to monitor.
- YouTube, Gemini Exchange and the Ethereum Foundation did not return requests for comment by press time.
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