CRYPTO SCAM ALERT: Fake Charlie Lee Asking for Your LTC

News
Thu, 11/14/2019 - 16:20
Vladislav Sopov
Fraudsters are streaming YouTube interviews with Litecoin creator Charlie Lee. They claim that the Litecoin Foundation is giving away 50K LTC in exchange for money.
Cover image via 123rf.com
Contents

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.

Shameless Scam

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.

Protect Yourself

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!

Has anyone been caught up in a crypto scam? Tell us your story on Twitter!

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)


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