2 November 2024
Cardano Founder Addresses Youtube Scams Promoting Fake ADA Giveaway
Cardano’s founder Charles Hoskinson accused YouTube of an ongoing ADA scam. Crypto scammers on Youtube post elaborate videos and advertisements for the old “send me 1 ETH and I’ll send 2 ETH back.”
It raised a question that cryptocurrency ads, by themselves, are censored and not allowed on the video on Youtube but scams for those are, seemingly, allowed.
Hoskinson tweeted on Sunday about a scam going on YouTube using his last keynote address. “We will take legal action if we can against those responsible,” he noted, adding in comments the giveaway was “disgusting and criminal.”
The video which has now been removed from Youtube was showing scammy texts and enticing ADA offers over Hoskinson’s legitimate keynote address. The innocent viewers could have easily believed this was an official Cardano giveaway (nothing like that currently exists).
Some sources said that an ADA airdrop scam was doing the rounds as well, meaning there are multiple scam models—or the possibility of another group targeting ADA-centric viewers.
Many celebrities, popular technology evangelists, and fund managers were targeted for such types of crypto scams. The scams also included Elon Musk and Chamath Palihapitiya.
One commented that YouTube could have been ignoring the ads and videos for the revenue they generated. Youtube had previously removed legitimate crypto-based videos.
Binance and Ripple had also undergone similar scams as of last week, and with both firms taking legal firm against or taking up the issue with YouTube.
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