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10,000 Bitcoin (BTC) Giveaway Scam Now Active ON YouTube

One of the oldest scams in the bitcoin and crypto space has been revived in YouTube videos. The promise to double coins sent to a certain address has been montaged onto a video of Binance’s CEO, Changpeng “CZ” Zhao.


GIVEAWAY ADDRESS ALREADY HAULED IN 5 BITCOINS


Unlike previous bitcoin giveaway scams spreading through social media, this one cannot be intercepted that easily without reporting. The reason for this is that the addresses are embedded in the video, and difficult to track without actual humans looking at the montage.


The trick about bitcoin giveaway scams is that they promise to double, or pay out an even more exorbitant reward, for sending in BTC. Usually, when tested with a small number of coins, those scams return some of the hauls.


But others are sneakier – when only a token amount of bitcoin is sent, then suddenly there is a withdrawal limit. So the user needs to send some more BTC to take the coins back – and that time, the scammers simply refuse to return the coins.


10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure!

The above video is just one example of how the bitcoin scam is disguised. YouTube has also hosted similar videos under the hood of the “10,000 BTC giveaway” scheme. Promises rain in from both Binance and John McAfee. But there is more – scammers also promise a 100,000 Ethereum (ETH) giveaway with similar rules. Read More...

Scam Alert
Giveaway Scam on Youtube

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