Scammers Turn to Fake Youtube Live Streams Featuring Prominent Cryptocurrency Individuals

Feb 15, 2020 at 07:45 // News
Coin Idol
Youtube is now used for a cryptocurrency scam

The prevalence of cryptocurrency has reached a whole new level with many users constantly searching for the latest information and news regarding the topic. Scammers on youtube are taking this as an opportunity to run fake live stream interviews with prominent names in the cryptocurrency space to garner large traffic to their youtube channels.

Fake Youtube Live Interviews with Prominent Names within Cryptocurrency Industry

Everybody knows that youtube pays and it pays handsomely. Millions of people derive their living by merely becoming a star and youtube and earns handsomely from it. Recently some scammers stormed the video sharing platform pretending to be doing live interviews with some well known people in the cryptocurrency industry.

The main intention of these acts would be to direct more traffic to the scammers account and generate more youtube earnings. The most featured people during these fake interviews include Space x founder Elon Musk and Ethereum Founder Vitalik. During the interviews scammers would announce cryptocurrency free giveaways and other attractive packages to rake in more online viewers.

Some of the scammers successfully massed large sums of money in cryptocurrency from running fake stories about prominent people. One scammer focused on using Elon Musk as his feature guest had more than $179k in his wallet. The scammers always take swift measures to empty their account after every time they rake in some money.

How to not Fall Victim to these Scammers

Once a user searches for a topic on youtube, the platform gives higher priority to live streams. There are hundreds of new cryptocurrency enthusiasts searching everyday for cryptocurrency related topics on youtube. This translates to hundreds of possible victims to scams like these every hour.

Usually these scammers stream an old video and spice it up some fancy freebies text that attracts viewers' attention. The spammers also go up the extent of manipulating the number of people watching their videos live by using bots. The most important thing required to protect users is to avoid paying money to these unrelenting scammers.

Show comments(0 comments)