Bitcoin Forum

A fake Litecoin Foundation operating on YouTube and Facebook is apparently scamming people out of their LTC. The scheme was recently exposed on Twitter.

It’s another day in the cryptocurrency world and yet another scam is making the rounds. Users have reportedly been scammed by a dubious Litecoin Foundation giveaway which has been promoted both on YouTube and Facebook.

Source link here (https://beincrypto.com/fake-litecoin-foundation-scam-defrauds-309-ltc-from-users/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

I just felt sorry for those who are being defrauded by scammers who pretend to be Litecoin Foundation.

Sometimes, we need to have some common sense before dealing with them. Like for example, I see something like this on Facebook and Twitter. I usually wanna verify it first to their official pages or so before believing that they’re doing some sort of promos or so.

Just be careful next time. It’s all about learning lessons after getting victimized or defrauded like this.

This is why youtube was doing censorship to the any videos that related to the cryptocurrency because there were so many frauds around there. It looks like that the litecoin foundation must try to put and spread more and more aware if they never do any partnership or even create a project.

Scammer is destroying anything.

Absolutely true, a few weeks ago I encountered fake live streaming. Back then their scheme was doing a giveaway while the live stream happened, they said we will get 2x of the money we send to their address. Approximately they collected 79 ETH by running fake live streaming. I bet many people reported it and the effect is YouTube censoring everyting related to cryptocurrency. It happened not just once but many times.

So interested was the victim that he could be trapped into a fake Litecoin foundation and they took the victim's money easily.
We need to be careful when looking at something that is suspicious, especially what they are promoting on YouTube and Facebook. We have to research more about it, and are many victims of the Litecoin foundation?

The best way to confirm if any offer is scam or not is to alert the team, if these victim have heard to litecoin telegram channel and ask about the fake foundation thing they will be exposed very quickly, they took decisions unfortunately the wrong one

I can't believe why so many people are so easily fooled. They can easily verify their facebook or youtube account within seconds to know if it is a fake account.
But anyway, I'm sorry for them, they need to be more careful in the future. And I'm sure this is one of the reasons why YouTube is so strict with cryptocurrency recently

take opportunity to profit the easy way well that's how people get caught by scammers ,promises spread giveaway to celebrate in famous wallet things that can attract people for profit ,simple strategy but the victim is not agile in seeing reality ,scammer is proven smart right so if you don't want to stumble be scam you have to be smarter than them by continuing to dig up information about a prize or a project

It is hard to trust anyone nowadays especially if that is found on social media sites such as Facebook or Twitter or even Youtube. Scammers are everywhere. We need to make it a discipline to double check everything before sending any amount of crypto or money. The Litecoin foundation is a trusted name. That is probably the reason why there are a lot of victims.

this is because the victim is a newbie that just joined into the crypto scene if you already old enough you won't fall into this scheme
because there is no way that the official Team is offering this kind of offers

The social media platform is a paradise for scammers, and it is easy to deceive someone, especially someone who has just joined crypto-world. And really lately scammers are increasingly rampant and bright ideas always emerge. For the LTC foundation fraudster problem that is happening right now I hope it will not happen again, because the scammer is very influential in the market to light the red candle.

If someone says to send your coins to them in order to receive and much bigger reward, who on earth is going to send the coins, you need to be either dumb to fall for those scams, greed of getting more coins for free have made the looser blind and so is the reason they were scammed. Just use your common sense if you see any offers like that and these things can be avoided.

Anything we can see on the social media platforms with the official name related to the original coin could be an impersonator so anyone who is going to participate on those schemes or offers need to verify or just ignore it all because no one is going to give real money for free.

People with less knowledge about of the cryptocurrency are the number one victim with all of these fraud. They just going straight to the scam without making an effort to do their research first. Not everyone we saw on the internet is true, that's why we have to make a precaution to ensure that we are not falling into their trap.

And it's only common people who are trapped by scamer on social media with their tricks that continue to run smoothly so that many are interested in sending money there.
So indeed we have to investigate further so that which is the official thing we should know so that we leave such a project, because if there is something in the name of the Litecoin project it's a scam because basically the original project won't offer it like that.

Now I see why youtube started cracking crypto projects. Makes sense also. Just scammers are killing whole crypto field and missing out lots of good opportunities as well.

This is why its hard to trust anyone in crypto, a too good to be true offer are always a sign of scam. This is a classic example of the cointele offering to double the coins when they send something to a particular ETH address. These scammers are just watching the new comers in crypto who are too excited, greedy and willing to risk their tokens for small amount in return.

This time LTC on youtube and foundation is something easily faked.

Anybody that still gets defrauded by such obvious scams deserve to be scammed in my opinion. After all, a fool and his money are easily parted.

No amount of education efforts will stop the idiots that believe anything from throwing their money away.

This is why there will always be successful scams, education never penetrates 100% of people.

Sad to hear this news. I can't blame people who already got disaster
bcz I think that's unethical. I just hope they would learn from their mistake in the future

There are many trap in here, we have to be carefull. if not, we may become the next victim

Thank you for sharing this story. Hopefully there are no investors trapped in fraud again. maybe some investors do not have in-depth knowledge and lack of information so that the scamers easily convince them to hand over money. all projects have telegram channels, it is faster for everyone to find information in telegram before making a decision.

People are still gullible enough to believe any claim made by random people on a YouTube video. If one does not see the signs of a scam coming in from such users then I don't think they'll have better chances surviving the scams awaiting on the wild west of crypto.

I often wonder how people are still getting scammed nowadays even if a lot of precautions have already been put into place against scams plus the fact that scamming schemes are not even a secret anymore. This might also be one of the reasons why YouTube has been very strict on crypto-related videos as of late as they don't want the platform to be a hub and nurturing ground of scammers.

Why do people always keep on doing the same mistake? Sad they fell for this scam but they deserve getting scam. I know I sound a bit harsh, but they won't learn anything until they getting scammed. All this fake LTC foundation had to do was giveaways and people jumped in and started to trust them. I hope they learned something from this after getting scammed.

This is the basic fraud that is going on from the beginning, impersonating exchanges or their support system and asking the customers to send funds to verify and now they just changed the script slightly to fool a bunch of people who have no idea about the virtual world and how to avoid getting scammed and i am amazed to see that people still fall for these stupid scams.

If people understand the basic idea behind cryptocurrency then people will not fall for these scams, you do not need to check with the official team to know whether it is a scam, because no one will ask someone to send your coins to get that returned with extra gifts and if any team says those, it is a scam because the idea behind crypto is possession and once it leaves you there is no reversal.

Well, victims to this cannot be blamed, rather the scammers and their scam activities should be frowned at. Some of these things are just sometimes inevitable. If you can avoid them, some might just not be able to avoid them.
Most of these things look like ponzi. If you are able to understand what they look like, then you will be free from them.

I can't understand why the victims just want to send their ltc first. Obviously there is no guarantee that they will send back the ltc with a larger amount.
I think the ones who send ltc to the fraudster's address are the newbies or people who like to gamble.
This has happened since the beginning of the crypto world. Therefore do not ever fall prey to their sweet talk. Poor victims.

Scam is everywhere, even you can see it on every tweets the popular crypto figures' trying to disguise as them and offering to give away some amount of money. It's no wonder the youtube platform take action against such action and being more strict to their rules and enforcement toward crypto related channel. There's always someone who are not knowledgeable enough to deal with all the "dreamy" offer and ended up being scammed.

isn't that a silly thing to do if you send your assets to someone on behalf of a developer or someone who promises to return your assets in greater amounts. we should be able to see where they are and whether the event is officially done from their account.

Learning from this mistake will going to allow everyone who got victimized to sort things before investing to this kind of fraud, Investors needs to be more careful and selective when thinking of placing their money to any types of investment. Protecting your money is very important and by knowing how to avoid such activities helps you out to lessen the chances of being scammed from this kind  of practices.

The lesson that they have learned will help them analyze things before making decision on investing their money, since you have to consider a lot of things on investment to make sure that your funds is safe and secured from scammers. As an investor it is our responsibility to secure our money particularly these days that scammers are getting wiser on tricking us, we have to be cautious on every decision and action that we are making because we don't know people's true intent that is why we need to do some effort learning and understanding things that can help us to overcome such problems like doing our own research before risking our money into an investment. In that way, you will see different information regarding that kind of investment that can help you make the right choice, it is kind of laborious for some you because it takes a lot of your time and effort but at least your funds will not be wasted for nothing.

Some people make so much mistake, seriously :o, I don’t even know whether to blame them or not, maybe they are still new to stuff like this. How can someone claim to be something and you don’t even do proper research about them. If someone should tell me something like this, I don’t jump straight into it, I will first of all do my research especially on the team that are running the organization to know who they are. If they seem like they are not being transparent, then I will just forget about it.

There are lots of ways you can tell whether they are scammers or not. I have been seeing a lot of scam lately, people really need to be very careful.

even team transparency will not give you any guarantee that the project can be successful or not a scam. More recently, there was such a project as Cloudtoken. The project team was completely open and spoke at conferences and constantly talked about itself at webinars as a big project that builds an entire ecosystem. I invested a small amount of money in this project, but recently it turned out that it was a scam and the CEO of the project disappeared. I lost about 2 ethers. sad but this is experience

Any airdrop or reward program that requires you to send some funds first is a scam and after years of people being defrauded by scams like this, it is a wonder that people still fall for it all to this day. This is not the first and wouldn't be the last, I just hope that people who has fallen victims to it before would try to help others not fall for the same scams.

there are so many types of scams like this, this is what we should all clean up early so that this year and the following year all users are all smart, sorry I don't mean to say they are stupid, many fraudsters also have live streaming on YouTube with altcoin CEO and give a giveaway with asking you to send some coins, that's obviously a fraud because no CEO gives any free giveaway and he asked you for money before, this should be applied there is no free money in the crypto world, if you see a social media fanpage or a suspicious youtube channel, it should be reported it will help the beginner not be fooled again