January 27, 2023

Charles Hoskinson reports fraud on YouTube where Cardano is handed out

IOHK CEO Charles Hoskinson raises alarm about another fraudulent token distribution on YouTube.

Fraudsters launched a remote live broadcast on YouTube to trick viewers into sending them Cardano coins (ADA). The cryptocurrency founder called it "disgusting and criminal."

To add legitimacy to their video, they added a recording of Hoskinson's speech at the conference.

Lots of others have been reported recentlyprominent personalities unintentionally involved in such distributions of cryptocurrency - from Daniel Craig (James Bond) to Tesla CEO Ilon Mask.

The latter turned out to be a cash cow for scammersafter the launch of SpaceX Falcon 9. According to cybersecurity company Adaptiv, they managed to earn more than $ 2 million by promoting numerous vanity addresses with stolen Youtube accounts.

A similar fraud involving Microsoft co-founder Bill Gates also brought scammers about $ 100,000.

Hoskinson said last week that the Cardano Foundation was not affiliated with the MLM scheme that promoted their ADA coin in China.

Speaking of scammers, Hoskinson does not rule out the possibility of prosecuting “against those responsible,” if possible.

At the end of April, Ripple CEO Brad Garlinghouse sued YouTube for not making enough efforts to deal with such “obvious frauds.”