NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Watch Out, This New Bitcoin Scam Is All Over Youtube

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Earlier today, I opened up my Youtube feed and saw a weird video in my recommended feed: it was titled something like “Binance CEO Does Bitcoin Giveaway,” or something similar in equally as broken English, it had over 2,000 live viewers, and was purportedly being hosted on the channel of Binance.

Of course, I knew something was up right away; why would the renowned exchange be doing a sudden Bitcoin giveaway, on Youtube no less? And even more pertinent, why did the title sound so weird and disjointed?

Related Reading: Bitcoin Indicator That Called Rally to $14,000 Flashes Again

New Bitcoin Scam On the Block

As I was intrigued, I clicked on the video, and what I saw was fascinating: it was a video of one of Changpeng “CZ” Zhao’s official Q&A sessions on Periscope split-screened with a Bitcoin address and its respective QR code. In the description, “Binance” promised to multiply the deposits of Bitcoin — an obvious scam.

Per NewsBTC’s search of Youtube, similar scams are being run for both Ethereum and XRP, with the malicious individuals behind this scheme using the likenesses of Ripple CEO Brad Garlinghouse, Ethereum founder Vitalik Buterin, and even Tesla CEO Elon Musk to try and secure cryptocurrency from unsuspecting viewers.

It isn’t only the variety of the scamming live streams that’s fascinating, the scope of this operation is astounding.

While it was hard to tell exactly how many streams there were, our analysis found that there were a handful of “giveaways” being held for every prominent crypto keyword, from “Bitcoin” to “XRP” to “Coinbase.” Better yet, there were live streams in different languages — one we saw touted Ripple’s Garlinghouse in Japanese and had 900 viewers.

It’s Worked, Unfortunately

Unfortunately, as clear as day this scam may be to readers and NewsBTC, these giveaways have managed to catch some cryptocurrency investors off guard.

According to a Github linked shared on a Substack post from Matt Muller, some of the addresses the scammers have been using have received large sums of cryptocurrency from seeming victims: one Ethereum address we found was sending hundreds of dollars worth of ETH to another address Etherscan marked was related to a phishing scam.

There have also been reports online, especially on Reddit and Youtube, of people sending funds to the addresses these scammers use in their videos.

Due to the nature of blockchains, once you send the funds, they’re 99.99% gone. Forever.

Related Reading: Investor Put $1,000 in Top 10 Crypto Assets 1 Year Ago. Now It’s Worth This Much

Thus, the best way to prevent being affected by these scams is to practice due diligence and never associate with any entity saying they can instantly multiply your Bitcoin or Ethereum, let alone if they claim to be an actual crypto firm.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto

Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details

Popular market analyst and key opinion leader (KOL) Ted Pillows is projecting the crypto market to hit a $4.5 trillion...

Semilore Faleti 9 hours ago
Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s...

Scott Matherson 10 hours ago

What FunToken movement towards a 500% spike says about the scarcity market psychology

FUNToken made an almost historic announcement on June 19, 2025, wherein the company announced a fixed tokenomics, with its supply...

News BTC 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Scott Matherson 1 hour ago
Bitcoin

No Need To Panic, Bitcoin’s Peak Still Coming In October 2025 – Analyst

Semilore Faleti 3 hours ago
Litecoin

Litecoin Fate Tied To Bitcoin – Will $96 Resistance Crack?

Godspower Owie 4 hours ago

Premium Sponsors

Press Releases

  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    7 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    11 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    11 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    18 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    18 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.