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Starting from the last months of 2019, crypto scams plague YouTube here and there. Fortunately, it's pretty easy to detect them as they follow the same primitive scheme.
One more 'giveaway' to celebrate
The mechanism of such fraud clearly shows its authors have some issues with imagination. They just launch a stream on YouTube that broadcasts old interviews of well-known personalities from the blockchain sector. U.Today warned our readers about such 'shows' with Litecoin's (LTC) Charlie Lee and Ethereum's (ETH) Vitalik Buterin.
Now, it is the turn of Ripple CEO Brad Garlinghouse. Today, scammers launched a channel that endlessly broadcasts one old interview of Mr. Garlinghouse.
In the description below the video, there is an invitation to participate in an XRP airdrop. Once the user opens the link, it redirects to a Telegraph article which states:
To participate you just need to send between 1000 XRP to 1000000 XRP to the contribution address and we will immediately send you back between 5000 XRP to 5000000 XRP to the address you sent it from.
As a result, gullible investors may lose between $290 and $290,000 at press time.
How to avoid primitive scams
We would like to repeat one more time two basic rules which can help you to avoid sending your crypto to scammers.
- Crypto behemoths (Bitcoin, Ethereum, Ripple, Litecoin, Binance) will never launch an airdrop. Giveaways are used only by early-stage coins to raise awareness.
- Always check the official web-site with HTTPS-encryption. No event is announced through Telegram, Medium or YouTube only without a notification on the official source.