A friend named Lauren recently shared a devastating story about falling victim to a cryptocurrency giveaway scam on YouTube. She was watching crypto-related videos when she came across a live stream that appeared to feature Vitalik Buterin, Ethereum’s founder. The stream advertised a limited-time giveaway, claiming Ethereum was being distributed to participants who sent funds first, promising they’d receive double in return.

The live stream appeared incredibly authentic, with thousands of viewers, official-looking branding, and an interactive chat filled with comments claiming to have successfully doubled their Ethereum. Lauren, excited by the opportunity, quickly sent about $1,000 worth of Ethereum to the wallet address displayed on the live video.

Unfortunately, she soon realized her mistake when the promised Ethereum never arrived. Upon closer inspection, the live stream was a cleverly edited recording designed by scammers who used bots to populate chat comments with fake success stories. Lauren’s funds had already vanished, impossible to recover.

Her painful experience serves as a critical reminder: always approach crypto giveaways on social media and streaming platforms skeptically. Genuine cryptocurrency figures and projects never ask users to send crypto first as part of a giveaway. Verifying authenticity directly from official sources is crucial to avoiding such scams.