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The fraudsters made $ 9 million in October, using live streams on YouTube

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Scammers profit
Source: Shutterstock, Alex Volot

The world of cryptocurrencies enjoys immense popularity, which they are increasingly using as well fraudsters, that is, fraudsters. And they are doing very well. The latest statistics show how incredible they got for the month of October $ 9 million.

Fraudsters take every opportunity

Fraudsters will always find a way to take advantage of the often naive and inexperienced newcomers entering the world of cryptocurrencies. This time they focused on YouTube. According to new studies, they managed to generate a profit of $ 9 million in October alone. How is it possible? It’s very simple. Company Tenable showed how scammers use live broadcasts on YouTube. High-quality background in which influential personalities from the world of cryptocurrencies, such as Elon Musk or representatives of ETH, DOGE, ADA, XRP or SHIB projects, take turns. How did they make a profit from people? They promoted fake gifts that included the cryptocurrencies mentioned.

So we can see that fraudsters really don’t have enough to be able to overwhelm people. They even added a fake tweet to the video to alert them to the event. Just send the cryptocurrencies to the given address and we will double it and send it back to you. Does that sound tempting, though?

Crypto fraud demonstration

Crypto fraud demonstration. Source: YouTube

“Fraudsters realize that users have a lot of trust in influential people, so they create fake videos featuring cryptoinfluencers as well as prominent figures from the cryptocurrency world,” a Tenable spokesman said.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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