Input Output Group (IOG), the development firm behind the Cardano blockchain, has urged users to stay away from its official YouTube channel after it was used to broadcast a fraudulent crypto
Input Output Group (IOG), the development firm behind the Cardano blockchain, has urged users to stay away from its official YouTube channel after it was used to broadcast a fraudulent crypto giveaway on September 18.
The channel livestreamed a suspected AI-manipulated video of Cardano founder Charles Hoskinson (@IOHK_Charles) promoting a crypto giveaway. The stream purported to be a town hall for Project Catalyst, a decentralized community innovation fund and grant program, and remained live for nearly two hours.
The manipulated video directed viewers to a QR code with a promise to "double your wealth." Viewers who followed the QR code were funneled into a fraudulent payment process designed to steal funds. IOG warned users to avoid interacting with its YouTube channel until further notice and advised against clicking links, sending funds, or sharing personal information in response to content on the channel.
There is currently no evidence that Cardano's $ADA blockchain itself was compromised. The incident appears confined to the YouTube channel, and IOG moved quickly to alert its community.
This type of attack follows a well-documented pattern in the crypto space. Attackers hijack established YouTube channels, rebrand them to resemble official project accounts, and run a livestream of pre-recorded footage alongside graphics promoting a "double your crypto" scheme.
Cardano and IOG have faced similar threats before. In December 2024, the Cardano Foundation's X account was compromised by an unknown party, leading to a fake announcement of a Solana-based token and a false claim of an SEC lawsuit against the Foundation. The IOG YouTube incident is the latest example of scammers exploiting trusted community platforms to target $ADA holders.
Users should treat any unsolicited giveaway promoted through official-looking channels with extreme caution. Legitimate projects do not ask participants to send cryptocurrency in exchange for a larger return.
Sources:CoinTelegraph: Cardano Developer Warns Over AI YouTube Crypto ScamThe Block: Hacked Cardano Foundation X Account Posts Fake Token, False SEC Lawsuit Notice
