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.
Cardano’s Charles Hoskinson called out YouTube over an ongoing ADA scam, which sees scammers post elaborate videos and advertisements for the old “send me 1 ETH and I’ll send 2 ETH back.”
In a tweet, Cardano founder Charles Hoskinson said a Youtube account has been using a keynote address he made to promote a fake 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. Please report it to YouTube. We will take legal action if we can against those responsible.”
Cardano may have become an increasingly alternative for tricksters because of its huge late value ascend; on Monday, July sixth, the cost of ADA stayed nearby $0.09–at press time (after seven days), it had ascended to $0.13.
It appears as though Cardano has been hit with a lot of scams since their recent success with their altcoin ADA. The cryptocurrency skyrocketed this July, surprising crypto market experts. It is the highest price level the ADA has seen since its fluctuation in 2019. Currently, ADA is experiencing a 200% year-to-date gain, making it the biggest news on crypto markets. Cardano’s ADA cryptocurrency has been one of the top-performing tokens this year and has become the sixth-largest crypto according to CoinMarketCap.