[PSA] Every “contest” that promises you to double your crypto is a SCAM, every single one of them. There never was and never will be a contest or event that will double your crypto, NEVER. It’s always 100% scam. ALWAYS. Explanation of how it works in the thread.

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Let me explain how those live stream YouTuev scam work.

The scam is rather simple:

Scammers first hack someone’s YT channel with a lot of subscribers. They delete all videos and replace them with fake Cardano videos, interviews, reviews, Q&As etc. Then they do a live stream, usually an hour-long video or so and they just play it nonstop in a loop. Usually, there’s a timer showing that some sort of “promotion” will end soon and you have to be quick. They ask you to send X amount of crypto and they promise to send you back double the amount.

It looks legit because it has a crypto celebrity on the live stream talking to you right? The channel name is usually changed to something else to make it look legit. It has a high subscriber count so it must be legit right? 200k-300k subscribers look legit, right? But it’s just recorded video from another legit stream. Just recorded and played back to you. It may look legit but it’s not. Remember if they offer you to double your money it’s fake. Always. No fucking exceptions. Always a scam. Always. If it’s too good to be true, then it probably is too good to be true.

It keeps happening and the ADA scam thread for example on the Cardano forum keeps growing. When that first dude sent scammers 200,000 ADA, yes 200,000 that thread had only a few replies. Now it’s around 100 replies and a lot of them is people that fell for the same scam it’s crazy! And they have multiple threads on that forum. I think the current one just hit 100 max replies mark. But it’s not just ADA it’s all other cryptos too.

#Nobody will send you double the amount of crypto if you send them yours. NOBODY, don’t fucking do it. JUST DON’T. It will never happen.

Here’s one of the latest victims posts:

“Up until today, i would have thought to myself “you deserved what you got for being that stupid”…

I got into crypto like 10 days ago, and it was awesome. And today while browsing YT i came across the exact same thing you did, with a countdown timer and Charles talking about something, and, just like that, my greed just took over. Tunnel vision, thats what it was. I literally sold everything in my portfolio so that i could send ADA in time, thinking it would be worth it LOL. And i sent like 2100 ADA. And then it started to kick in. The stupidity of what i’ve done. In an instant i was aware that it was a scam and everyone with half a brain could see it was a scam… Apparently my brain just turned off for those 30 mins.

Anyways, i lost SO much less than you, even tho it was literally all i had, but i completely understand how you feel and that it can happen to anyone. You just think it will never happen to you.

Best wishes to you, i hope you are successful in recovering your money. If you are, let us know how.”

#TLDR: NOBODY WILL DOUBLE YOUR CRYPTO, IT’S ALWAYS A SCAM, NEVER SEND ANY CRYPTO TO ANYONE DURING YOUTUBE, TWITCH OR ANY OTHER PLATFORM STREAM. IT’S ALWAYS A SCAM.

For those interested the original post on ADA forum can be found here: https://forum.cardano.org/t/lost-220-thousand-ada-because-of-a-youtube-video/69308/105

submitted by /u/rootpl
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