The project director of the Litecoin Foundation is warning the crypto-curious about an apparent scam on YouTube.
David Schwartz says a YouTube channel posing as the Foundation recently broadcast a video of the 2019 Litecoin Summit, pretending it was happening live.
The description of the video falsely states that the Litecoin Foundation is now giving away 100,000 LTC.
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.
— David Schwartz (aka – Dasch) (@DaddyCool1991) December 23, 2019
The video deploys a classic crypto scam, claiming that anyone who sends LTC to a certain address will receive a larger amount of LTC in return.
It’s the latest reminder that the vast majority of crypto giveaways are likely scams – especially those that ask people to send crypto to an address.
Similar schemes are trying to trick Ripple and XRP supporters, with many people in the community posting alerts via Twitter.
🚨🚨🚨NEW SCAM ALERT🚨🚨🚨
These tweets will lead you to a webpage or youtube, trick you to send them XRP, and convince you on getting back double or more XRP in return!!!#XRPCommunity! NEVER NEVER SEND YOUR XRP TO THESE SCAMMERS! THIS IS NOTHING BUT A SCAM! pic.twitter.com/S3bsXhcBmE
— 🐼PandaRippleXRP🐼 (@RipplePandaXRP) December 17, 2019