The Cardano development team, Input Output Group (IOG), is warning users to steer clear of their official YouTube channel after scammers launched a livestream featuring a suspiciously AI-manipulated video of Charles Hoskinson. The stream falsely promises to 'double your wealth,' following the classic crypto giveaway scam playbook—where viewers are baited into sending funds with the promise of easy returns.

What Happened

According to IOG, their official YouTube channel started broadcasting a video that looks like an AI-edited clip of Hoskinson, complete with fake promises to 'double your capital.' The company is urging the Cardano community not to click on any links from the stream or engage with any so-called 'promotions' being offered.

Risks for ADA Holders

These kinds of streams are designed to quickly siphon crypto from unsuspecting users. Promises of instant profits are a classic red flag: coins sent to these scammers are almost always gone for good. The risk is especially high for ADA holders who trust Cardano’s brand and its well-known faces.

How to Protect Yourself

To keep your funds and accounts safe, follow basic crypto security hygiene:

  • Never send crypto to addresses you see in livestreams or comment sections.
  • Always verify important announcements through Cardano’s official, verified channels.
  • Don’t connect your wallet to unknown sites or enter your seed phrase anywhere.
  • Report suspicious content using YouTube’s reporting tools.

If you’ve already sent funds to one of these 'giveaway' addresses, there’s no way to roll back the transaction—stop all interaction immediately and ramp up your account security.