Contrary to what most crypto enthusiasts would have hoped for, YouTube isn’t cracking down on livestream scams just yet. Instead, the criminals hosting these streams continue to make good money off of unsuspecting people, with no real improvements in sight.
For many months now, crypto livestreams on YouTube have become scammy in nature.
YouTube Needs to get it Together
More often than not, criminals will try to collect Bitcoin or top altcoins through livestreams.
On more than one occasion, users are invited to make a transaction to ‘join” the team, even though they get nothing in return.
Several of these streams have been identified in recent months, and new ones continue to pop up.
For some unknown reason, the YouTube team allows these to thrive, rather than crack down on this activity altogether.
In fact, the company seems more intent on banning legitimate crypto channels on YouTube.
It is unclear why these decisions are made or why nothing is done to prevent these fraudulent efforts from taking place.
Some Reddit users also complain that these scams are showing up in their “recommended videos” list, further adding fuel to the fire.
Something needs to be done sooner rather than later, but it seems unlikely that anything will change in the near future.
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