Fake Binance Bitcoin giveaway ads running on YouTube
2 for 1 Bitcoin scam promotions very similar to the recent global twitter hack continue running on YouTube
A series of scam video advertisements with very similar language to the recent Twitter Bitcoin scams are currently running on YouTube. Some of the ads feature an image of Binance founder Changpeng Zhao and claim Binance is running a "5000 Bitcoin Giveaway" with users being asked to send in 0.1 BTC to 20 BTC and receive double that amount in return.
The fake Binance ad running on YouTube.
According to Blockchair, the Bitcoin wallet address displayed in the scam ads has been active for around two weeks and has so far received five BTC transfers totally approximately US$5000 USD.
A spokesperson for Binance has confirmed the ads are scams. Fake ads and scams continue to be an issue for Google (which owns YouTube) and the company asks users to report any ads they believe are scams using this form.
The Binance brand is not the only high profile exchange name featuring in these scams. Similar 10,000 bitcoin giveaway scam ads featuring BitMex are also widespread on YouTube.
In the case of the BitMEX example pictured, the wallet address has been active for almost three weeks and has received over US$20,000 in bitcoin transfers in that time according to Blockchair.
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