Cardano’s (ADA) channel viewers on YouTube are now exposed to an ongoing scam, as reported by the network’s founder Charles Hoskinson. The computer virtuoso sent an alarming message on X: “Do not trust any videos or click on any links on it. Working with YouTube to take it down and reset credentials”.
Cardano Founder Warns Against Any Interaction
He was referring to the Input Output’s official YouTube channel, which started spilling one Hoskinson-themed counterfeit video after another. All interaction shall be avoided until further notice as YouTube’s investigation team is handling the hijacking.
Sponsored
The incident kicked off when the Cardano channel’s live stream started broadcasting a “double your wealth” offer.
This video montage showed a counterfeit Charles Hoskinson, assisted with AI speech & a QR code, taking the victims of this scam into the phishing website that can immediately drain all personal crypto data, including seedphrases. So far, there’s no immediate explanation on how the channel was obtained and who might be the culprits.
How Cardano’s YouTube Hack Lured Investors In
They were posing as a “Project Catalyst” town hall: Cardano’s Input Output account has years of trust built up, so a fake livestream or link looks native rather than suspicious. The messages may look convincing and lure in investors expecting to make a quick buck. First, they’re asking you to connect your wallet, then specify the amount “to double”.
This kind of sophisticated scam may loot millions of dollars from investors, since it’s been live for roughly three hours on YouTube. Hundreds of viewers were watching the live stream at the time of this writing, while Cardano’s developers once again reminded that legitimate giveaways never require sending crypto currency first.
At press time, Cardano’s (ADA) price inked 9% daily gains to trade at $0.2151, according to SoSoValue’s data. Luckily, the YouTube hack didn’t have an impact on Cardano’s price, but the estimated figures in financial damage may be floating in the millions if the hijacking issue isn’t resolved immediately with restored true ownership credentials.
Discover DailyCoin’s trending crypto news today:
SHIB Prints a Huge Wedge: This Setup Isn’t The Usual One
Bitcoin Reserve Bill Advances in House Committee