Cardano Warns of Youtube Scams Promoting Fake ADA Giveaways

Cardano is warning the public against scams promoting a fake Cardano (ADA) giveaway. 

In a tweet, Cardano founder Charles Hoskinson said a Youtube account has been using a keynote address he made to promote a fake giveaway. 

“It has come to my attention that a scam has been floating around using my conference keynote to promote a giveaway https://youtu.be/MqeEhezvI1s this is a scam. Please report it to YouTube. We will take legal action if we can against those responsible.”

The price of ADA went up by more than 85% in less than two weeks from $0.074 to $0.137. Cardano is also in the process of upgrading its ecosystem to the “Shelley” upgrade. With “Shelley,” Cardano will move from a centralized network to a distributed one. 

After tweeting out his request to followers to report the video, Youtube did delete the video but Hoskinson retweeted comments that scams were also being promoted in Youtube ads.