SUBMIT PRESS RELEASE
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
Coinfomania
  • News
    • Crypto
    • DeFi
    • NFTs
    • Regulation
    • Press Release
  • Beginner Guides
    • Bitcoin
    • Ethereum
    • Solana
    • NFTs
  • Price Analysis
  • Interviews
  • Crypto Swaps 🔥
  • Crypto Merch
  • About Us
  • News
    • Crypto
    • DeFi
    • NFTs
    • Regulation
    • Press Release
  • Beginner Guides
    • Bitcoin
    • Ethereum
    • Solana
    • NFTs
  • Price Analysis
  • Interviews
  • Crypto Swaps 🔥
  • Crypto Merch
  • About Us
Man Loses $1000 in BTC to Palihapitiya Giveaway YouTube Scam
Caroline John May 18, 2020 1:01 PM

Giveaway cryptocurrency scams continue to plague the cryptocurrency industry, despite the many reports we have covered about such nefarious events in the past. The perpetrators of these fake giveaways usually use the identities of popular crypto brands and influencers to deceive unsuspecting crypto users, especially newbies.

More recently, reports of a Bitcoin giveaway scam surfaced on Reddit, revealing that some fraudsters are doing a live session of BTC giveaway on YouTube in an attempt to deceive people to give out their Bitcoins into different wallets that belong to the scammers. 

According to the witnesses, this session was held in the name of Chamath Palihapitiya, the Social Capital chief executive, a billionaire investor and a Bitcoin bull. Hence, making the live stream session so convincing and real such that it attracted not just newbies but also long time crypto users.

Man loses $1000 fake Bitcoin giveaway

A man who lost his $1000 worth of BTC to the giveaway scam being a fan of Chamath took to Reddit and exclaimed his shock to fall for such scam being that he is not a veteran nor newbie in crypto, hence warning the public to stay away and be careful.

The victim said everything looked so real, and that the Live stream on YouTube showed that Chamath Palihapitiya, was doing a “5000 BTC giveaway.”

 

Bitcoin scam

Not the first

Another Redditor who had also claimed to have witnessed two different live events, requesting BTC in different wallets, shared pictures of the stream session asking participants to send Bitcoins into a particular wallet of which they will be credited with double.

Crypto holders should be aware that scammers can go any length to rip people off their digital currencies, and giveaway scams are the most common, but unfortunately, people still fall for it. Coinformania recently reported a popular giveaway scam that made away with a whole Bitcoin, leaving the victim with the pain of losing $7,200 at that time. 

YouTube sued for allowing fake giveaway scams

YouTube is known for hitting and deleting crypto-related videos. However, the content sharing platform has, time and again, failed to stop these giveaway scam videos on its platform. For this reason, Ripple filed a lawsuit against Youtube, for not preventing such fraudulent content.

According to the report at that time, Ripple said that YouTube ignored XRP-related scam videos on the platform that defrauded users while damaging the company’s reputation.

Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!

Bitcoin (BTC) Scam Alert

About the Author

Caroline John View all posts by Caroline John

Caroline is a zealous writer who recently picked interest in Bitcoin and the cryptocurrency community. She's always learning about the industry and aims to provide timely and accurate information about the latest developments in the crypto space.

« Previous Post
Next Post »
Press Releases
HeartX Launches Web3 Marketplace and Community Aim to Revolutionize Digital Art Industry
Press Release

HeartX Launches Web3 Marketplace and Community Aim to Revolutionize Digital Art Industry

Fantom (FTM) vs. Tron (TRX); Here’s Why Cosmos (ATOM) and Orbeon Protocol (ORBN) Are Must-Have Cryptos for Your Portfolio in 2023
Press Release

Fantom (FTM) vs. Tron (TRX); Here’s Why Cosmos (ATOM) and Orbeon Protocol (ORBN) Are Must-Have Cryptos for Your Portfolio in 2023

Filecoin’s (FIL) FVM, and Arweave’s (AR) 2.6 Launch Unable to Attract Investors, as They Rush Towards TMS Network’s (TMSN) Presale
Press Release

Filecoin’s (FIL) FVM, and Arweave’s (AR) 2.6 Launch Unable to Attract Investors, as They Rush Towards TMS Network’s (TMSN) Presale

Aptos’ (APT) Partnership and Fantom’s (FTM) Mainnet Upgrade Unable to Help Its Token Prices Rise, While TMS Network (TMSN) Presale Raises More Than $700k
Press Release

Aptos’ (APT) Partnership and Fantom’s (FTM) Mainnet Upgrade Unable to Help Its Token Prices Rise, While TMS Network (TMSN) Presale Raises More Than $700k

Beginner Guides
Who Are Crypto Whales? The Only Article You Need to Read
Beginner Guides

Who Are Crypto Whales? The Only Article You Need to Read

What Is Solend and How Does It Work?
Beginner Guides

What Is Solend and How Does It Work?

What is Polkadot (DOT) and How to Buy It?
Beginner Guides

What is Polkadot (DOT) and How to Buy It?

What Is an Exchange Token in Crypto? Explained for Beginners
Beginner Guides

What Is an Exchange Token in Crypto? Explained for Beginners

Price Analysis
Bitcoin Analysis: BTC Flips $28k in its Latest Rally. How High Will it go?

Bitcoin Analysis: BTC Flips $28k in its Latest Rally. How High Will it go?

Guides

About Us

Bitcoin

Ethereum

Solana

Polygon

Ronin

NFTs

Web3

Metaverse

Company

About Us

Contact

Corrections

Privacy

Terms

Sitemap

Community
  • Facebook
  • Twitter
  • LinkedIn
  • RSS
Disclaimer

Information found on this website is those of the writers quoted. It does not represent the opinions of Coinfomania on whether to buy, sell, or hold any investments. Readers must conduct their own research before making any investment decisions. Use the provided information at your own risk.

Coinfomania Copyright © 2023.
  • bitcoinBitcoin (BTC) $ 28,010.00 0.25%
  • ethereumEthereum (ETH) $ 1,770.86 2.77%
  • bnbBNB (BNB) $ 341.07 0.43%
  • xrpXRP (XRP) $ 0.378680 4.08%
  • solanaSolana (SOL) $ 22.58 1.17%
  • terra-luna-2Terra (LUNA) $ 1.41 5.56%
Scroll to top
Skip to content