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Cardano Warns Crypto Community Against Fake ADA Giveaway Scams on YouTube

Cardano warns the crypto community against scams promoting a fake Cardano (ADA) giveaway on YouTube.

Founder of Cardano, Charles Hoskinson tweets:

It has come to my attention that a scam has been floating around using my conference keynote to promote a giveaway this is a scam. Please report it to YouTube. We will take legal action if we can against those responsible. — Charles Hoskinson (@IOHK_Charles) July 12, 2020

Hoskinson said that a Youtube account using a keynote he previously made has been used in promoting the fake giveaway.

Recently, ADA’s price went up more than 85% in less than two weeks from $0.074 to $0.137.

Cardano is also in the process of upgrading its ecosystem to the “Shelley” upgrade.

It’s been a great year for #Cardano holders. ADA has now raced up to fresh yearly highs, reaching 0.0928 on July 2nd, a price that we haven’t seen since June of 2019. The impressive price rally is likely due to optimism ahead of the much-anticipated release of the Shelly upgrade — intotheblock (@intotheblock) July 6, 2020

With the upgrade Cardano will move from a centralized network to a distributed one.

Hoskinson’s tweet did make YouTube delete the video, however, Hoskinson retweeted some of the comments from the crypto community highlighting that scams are also being promoted in Youtube ads.

Source: Cointelegraph | Image: Unsplash



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