Over the last few weeks, YouTube has been flooded with livestreams that are trying to scam people. The way it works is nothing new – scammers ask viewers to send 1 BTC to an address in return for receiving 2 BTC. Something like that.

However, they are now using popular figures and companies, as well as manipulated stats, to add a bit of authority to the scam and potentially defraud more people. The weasels are using the likes of Elon Musk and Steve Wozniak, making it seem as if the companies behind them are doing a BTC giveaway for whatever cause.

An example of such a video can be found here. To an experienced person, this is instantly recognized as an obvious scam. But, to people new to the scene, it might not be so obvious. The YouTube channels have viable names (The Woz, Steve Wozniak), millions of subscribers (all fake), and thousands of livestream viewers (also fake). These numbers could easily fool someone not yet aware of the this malicious side of the industry.

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YouTube seems to be taking down the streams as fast as they can, but new ones keep popping up and up. We want to urge everyone to be careful when dealing with cryptocurrency and to follow one general rule – if it seems too good to be true, then it probably is. If you see such a livestream, make sure to report it right away so YouTube can take it down asap before people get scammed.

There have already been numerous instances of livestreams being shut down and re-opened again, so the scheme probably works and people have already been defrauded.

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