- Malicious Attempt to Scam Users of Their Litecoin Exposed
- How to Protect Yourself from the Shameless Litecoin Scam
According to reports, a group of fraudsters have devised a new way to scam unaware individuals of their LTC tokens. Scammers, now perpetuate a malicious activity by streaming YouTube interviews that show Litecoin’s founder Charlie Lee. The recent Litecoin news shows that these malicious users claim the Litecoin Foundation is offering a give-away promo were $50K worth of LTC will be given to LTC unknowing users. From today’s Litecoin news, Jon Moore, the network’s Tech Support CEO and evangelist of the Litecoin Foundation, John Kim, exposed the latest YouTube scam. The fraudsters request a user’s money claiming they are representing the Litecoin Foundation. They insist that the only requirement needed going forward is purchasing a $300 entry ticket.
How to Protect Yourself from the Shameless Litecoin Scam
The goal behind this latest scam is simple. The fraudsters are broadcasting interviews portraying Litecoin Founder Charlie Lee on YouTube. The scammers announce a 50,000 LTC give away to fans on their YouTube description. They encourage the users to send 5 LTC ($300) and you will receive 50 LTC ($300,000) or send 50 LTC and you will receive 500 LTC. Per the LTC news, the minimum sum of LTC required to be a part of the malicious scheme is 5 LTC. The maximum amount to participate is 500 LTC. The scammers also claim that anyone who sends more than 10 LTC will receive bonuses after claiming their prizes. “This is not a scam” is seen boldly written on their description. The fraudsters achieved this by using bots to get a large number of subscribers (210K) and uploaded two videos that received a total of 4,500 views combined. These videos got many likes and dislikes.
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This ploy to scam unwitting users of their LTC is a shame considering the horrible standard of English the scammers used in their description. The YouTube channel’s browser history shows interest in Portuguese cartoons. The comments and live chat features have been disabled. It’s good that the number of views the videos received is relatively low. Recall that a giveaway is mostly done when a new coin is launched. This tool is used to incentivize interest in the tokens involved. Spreading older coins like LTC, BTC and ETH offers no benefits. No crypto firm will request that you send them some funds from any platform other than your e-mail and Blockchain address. Do not expect any miracles with the evolving Blockchain technology. Be smart, carry out proper research so that you will fall victim to cheap scams like this.