Cardano’s founder Charles Hoskinson is the latest to address the growing threat of fake cryptocurrency giveaways. He blamed social media platforms like Twitter and YouTube for inaction, threatened to delete his accounts, and said his company will investigate if these giant firms are actually benefiting from the ongoing scams.
The Growing Threat of Crypto Giveaway Scams
Giveaway scams have skyrocketed in popularity in the past several years. Their method of operation is quite simple but, unfortunately, effective. Bad actors impersonate a popular individual or a company on social media, ask the followers/viewers to send any amount of a particular cryptocurrency to their address, and promise to double it.
Although such conditions sound too good to be true, people have continuously fallen victim. Cardano’s Charles Hoskinson addressed the giveaway scams in a recent video by highlighting the dangers they present for victims and the impersonated company/individual.
He said that people who have been harmed by fraudsters had contacted him and IOHK repeatedly to ask for an explanation and reimbursement. In some extreme cases, victims have sent him pictures of his pets, house, or parents and threatened to hurt them if Hoskinson doesn’t compensate for their losses.
He feels that some social media giants can verify his account with the so-called “blue checkmarks,” which should enhance his legitimacy while making the fake profiles less trustworthy. However, they have refused to do so, while verifying some accounts of less known individuals.
Legal Action or Leaving Twitter?
Hoskinson blamed …
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