Litecoin Foundation Warns Fake 100,000 LTC Giveaway Scam Spreading on YouTube

By Daily Hodl Staff

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.

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.

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