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.
Are you kidding me @YouTube ?! You are allowing PAID crypto giveaway pre-roll Ads ?!You hyprocrits banned honest bitcoin educator channels before, BUT you allow PAID PRE-ROLL ADS of scams ?!I have seen these scams before served in the algorithm when searching BUT never PAID Ads ! pic.twitter.com/vWcpEPNaVM
— Bitcoin Meme Hub 🔞 (@BitcoinMemeHub) July 11, 2020
Another Bitcoin scam on YouTube ads. WTF!!!!! pic.twitter.com/Hz0wCbFJyE
— ₿eautiful Freedom⚡ (@neomillennial) July 11, 2020
— Zoran Spirkovski (@SpirkovskiZoran) July 11, 2020
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.