Today, Litecoin (LTC) Tech Support CEO Jon Moore and Litecoin Foundation evangelist John Kim disclosed an arrogant YouTube scam. The scammers are requesting a user's money on behalf of the Litecoin Foundation, and the only requirement is purchasing an entry ticket for 300 US Dollars.
The idea behind the scam is relatively simple - they are broadcasting interviews with Charlie Lee on YouTube. In the YouTube description, the scammers announce a 50,000 LTC cryptocurrency giveaway to their fans. The rules are simple here - send 5 LTC and you'll receive 50 LTC; send 50 LTC and you'll receive 500 LTC. The minimum amount required to participate is 5 LTC (approximately 300 USD), while the maximum amount is worth 500 LTC. Those who send more than 10 LTC will allegedly receive an additional bonus.
We can't say that this scam was prepared brilliantly. The fraudsters managed to use bots in order to obtain a proper number of subscribers (210K for a channel that uploaded two videos with a combined total of 4,500 views) and an adequate proportion of likes and dislikes.
By the way, the standard English is horrible and makes funny-looking mistakes. It's as if they didn't even bother to use Google Translate. The history of the YouTube channel's browser shows interest in Portuguese-language cartoons. Comments to the video are disabled, as well as the live chat feature. It's a good thing that the number of viewers remains relatively low.
It should be mentioned one more time that a giveaway is a form of promoting a new coin. This tool is utilized by teams to incentivize interest in their respective tokens. However, spreading LTC, Bitcoins (BTC), Ethereums (ETH) have no benefits. Moreover, no crypto team will ask you to send them something apart from your e-mail and public blockchain address, let alone 30,000 US Dollars in exchange for 480,000 US Dollars worth of crypto.
With blockchain technology, miracles don't happen. Be smart, do your own research, and take care of yourself!
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