Starting on July 11th, Youtube started to present ads featuring BTC giveaway scams to viewers, a clear violation of trust and integrity in the network. Whether this was an inside job or a fault in the algorithm, is not clear.
We reached out to Youtube for comment, but no response was given by the time of publication.
The ads feature prominent faces, like Changpeng Zhao, Joe Rogan, and Steve Wozniak, together with footage from conferences.
The second part of these advertisements contains the Bitcoin giveaway scam, where you send a certain amount and don’t receive anything in return.
Users on Twitter are raging and filled with disappointment in the video hosting service.
“Six and a half billion people on this planet have no connection to the world of money. They operate in cash-based societies with very little access to international resources. They don’t need banks.”
Youtube has banned a variety of legitimate cryptocurrency and blockchain channels on the platform, and in this act of hypocrisy is quickly losing faith from the crypto community.