YouTube Crypto Giveaway Scams Users With Millions

[mlawson71]

Financial regulators have long warned that Youtube and social media provide fertile ground for crypto scammers, and here is a good example for that, unfortunately: a Youtube cryptocurrency giveaway scam was recently exposed by cybersecurity company based in Singapore. The scammers apparently were promising high returns from crypto investments, which resulted in them making off with some 1,680,000 million USD, according to preliminary data, though the full sum they stole is unknown at the moment.
The scammers ran 36 falsified crypto giveaway using Youtube’s streaming services. Their streams showed notable rich people and influencers like Elon Musk Vitalik Buteran and others and were edited to make a believable video to make people invest in the scam. Each stream apparently attracted between 3000 and 18,000 viewers.
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These scammers seem to love using Elon Musk’s face for their scams and people keep falling for it, sometimes I don’t get it.