Previous giveaway scams have used BTC, ETH, XRP, and other cryptocurrencies, as well as cryptocurrency exchanges.
Cardano, the decentralized Blockchain project that is powered by the ADA cryptocurrency, has issued a public warning against Youtube scams that are advertising a fake ADA token giveaway.
“It has come to my attention that a scam has been floating around using my conference keynote to promote a giveaway https://youtu.be/MqeEhezvI1s this is a scam,” he wrote on Twitter. “Please report it to YouTube. We will take legal action if we can against those responsible.” (As of press time, the video had been removed from Youtube.)
Cardano may have become an increasingly attractive option for scammers due to its significant recent price rise; on Monday, July 6th, the price of ADA hung around $0.09--at press time (a week later), it had risen to $0.13.
Crypto giveaway scams are increasingly popular on Youtube
The Cardano scheme is the latest in a series of Youtube-based cryptocurrency giveaway scams that have been popping up on the online video platform; CoinDesk reported that along with Charles Hoskinson, the identities of Ethereum founder Vitalik Buterin and Gemini founders Tyler and Cameron Winklevoss have also been used in similar scams.
Each of these scams has taken excerpts from talks that Hoskinson, Buterin, the Winklevosses, and others have taken talking about the benefits of a particular cryptocurrency (ie ADA or ETH).
The scams then declare that users’ funds will be doubled if they send an initial amount to a wallet address through a QR code; the victims send their funds and then, sadly, receive nothing in return.
Brad Garlinghouse, the chief executive of Ripple Labs, has sued the media giant over failing to adequately block and police similar scams involving XRP.
Cardano, the decentralized Blockchain project that is powered by the ADA cryptocurrency, has issued a public warning against Youtube scams that are advertising a fake ADA token giveaway.
“It has come to my attention that a scam has been floating around using my conference keynote to promote a giveaway https://youtu.be/MqeEhezvI1s this is a scam,” he wrote on Twitter. “Please report it to YouTube. We will take legal action if we can against those responsible.” (As of press time, the video had been removed from Youtube.)
Cardano may have become an increasingly attractive option for scammers due to its significant recent price rise; on Monday, July 6th, the price of ADA hung around $0.09--at press time (a week later), it had risen to $0.13.
Crypto giveaway scams are increasingly popular on Youtube
The Cardano scheme is the latest in a series of Youtube-based cryptocurrency giveaway scams that have been popping up on the online video platform; CoinDesk reported that along with Charles Hoskinson, the identities of Ethereum founder Vitalik Buterin and Gemini founders Tyler and Cameron Winklevoss have also been used in similar scams.
Each of these scams has taken excerpts from talks that Hoskinson, Buterin, the Winklevosses, and others have taken talking about the benefits of a particular cryptocurrency (ie ADA or ETH).
The scams then declare that users’ funds will be doubled if they send an initial amount to a wallet address through a QR code; the victims send their funds and then, sadly, receive nothing in return.
Brad Garlinghouse, the chief executive of Ripple Labs, has sued the media giant over failing to adequately block and police similar scams involving XRP.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
US Prosecutors Recommend 3-Year Prison Sentence for Binance's Changpeng Zhao: Report
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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