Tanya Abrosimova
Independent Analyst
- Someone impersonates Litecoin Foundation to scam people out of money.
- The scammers used the old Twitter scheme with free giveaway.
Litecoin Foundation warned users about scammers who launched a fake giveaway in the name of the official Litecoin team.
David Schwartz from Litecoin Foundation said that the YouTube channel that offers a free giveaway of 100,000 LTC was a scam, These people are nor associated with Litecoin Foundation, and they try to trick users out of their cryptocurrency.
There is a fake Litecoin Foundation youtube channel scamming people out of their LTC as we speak. DO NOT believe the channel and what it is offering! This is NOT the official Foundation youtube channel.
To make the channel look real, scammers downloaded several videos from Litecoin Summit 2019. In the description to the clips, they announced that they would give away 100,000 coins worth of about $4 million. Users should transfer from 10 to 1000 LTC to several wallets, to get the remuneration ten times as big as their donation. This scheme has been widely popular on Twitter.
By the time of writing, about 6,000 people viewed the videos with a fake giveaway.
According to Litecoin Block explorer, the cryptocurrency wallets provided by the scammers received 10 and 300 LTC in recent 24 hours.
The country of the channel is the USA; however, the owners of the account are supposedly of Russian origin as the channel description contains a quote from Alice in Wonderland in Russian in the channel description.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin recovers slightly amid sparse on-chain data signals
Bitcoin trades just above $57,000 on Tuesday after gaining almost 4% on Monday, buoyed by mild ETF inflows, increasing whale buying activity during price dips, a long-to-short ratio above one, and increasing stablecoin holdings on exchanges.
Solana on-chain metrics suggest rising activity and declining fees, supporting bullish outlook
Solana on-chain activity shows signs of growth in the last thirty days. Daily active addresses grow threefold, rising to 3.11 million on Monday. The number of new addresses on Solana in the first ten days of September is more than half of that registered in August for the entire month.
Rocket Pool jumps 23% after Binance announces launch of perpetual contracts
Rocket Pool surged more than 23% as Binance announced a perpetual contract listing on Monday. At the time of writing on Tuesday, it trades slightly up at $11.74. This bullish event is further supported by RPL’s rising open interest, which indicates new buying activity in the market.
ApeCoin set for a surge as on-chain and price trends signal a bullish rally
ApeCoin price validated a double-bottom pattern, signaling a bullish move. On-chain data paint a bullish picture on APE’s rising open interest, negative exchange flow balance, and decreasing supply on exchanges.
Bitcoin: $50,000 on the horizon if it breaks below key support level
Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.