The growing number of scams in the cryptocurrency industry continues to increase. YouTube live streams continue to wreak havoc, as no action is taken against them in a swift manner.
It now appears that fake Coinbase live streams are making the rounds on YouTube.
Beware of the Fake Coinbase Live Streams
Why this type of activity is still allowed by YouTube, is difficult to determine.
This has been a very common problem for the industry for several months now.
It started with fake live streams of cryptocurrency heavyweights , followed by blatantly stealing footage from actual events to promote fictitious giveaways.
For months, users have asked YouTube to take some course of action against these types of streams.
It is often difficult to do so, as new user accounts and channels can be created in mere minutes.
It is up to individual users to ensure they don’t get caught up in these scams.
That is often not too challenging, as there is no such thing as free cryptocurrency.
This is especially true where projects, foundations, and major companies are considered.
Even so, it would appear that most of these streams tend to generate the criminals some money in whatever currency they are accepting at that time.
Efforts like these will only give cryptocurrencies an even worse reputation as time progresses.