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Cardano developer Input Output Global warned users to avoid its YouTube channel after an apparent account compromise was used to broadcast a fake cryptocurrency giveaway featuring Cardano founder Charles Hoskinson.
The Sept. 18 livestream used suspected AI-manipulated footage and Project Catalyst branding while directing viewers to a QR code promising to double funds sent by users. IOG told users not to click links, send funds or provide personal information through the channel.
Fake Livestream Posed as Project Catalyst Town Hall
The fraudulent broadcast was presented as a Project Catalyst town hall, using the identity of Cardano’s community funding program to make the stream appear legitimate.
The video showed suspected manipulated footage of Hoskinson and directed viewers toward a QR code connected to the purported giveaway. It had been running for almost two hours when the incident was reported.
Hoskinson separately said the IOG YouTube account appeared to have been compromised and warned users not to trust videos or links posted through it. He said the team was working with YouTube to take the channel down and reset its credentials.
IOG Has Not Disclosed How YouTube Account Was Compromised
IOG has not publicly disclosed how access to the YouTube account was obtained or whether credentials, session tokens or another authentication method were involved. There was also no confirmed figure for funds lost through the scam at the time of the warning.
No verified scam-wallet balance or blockchain analysis linking specific transfers to the Sept. 18 broadcast had been disclosed. There is no indication that the incident affected the Cardano network itself.
Cardano Says Network Itself Was Not Affected
The technique follows a scam pattern Cardano has documented previously. Its security guidance warns that fake livestreams can feature manipulated footage of Hoskinson or other recognizable figures while directing viewers to send ADA to receive a larger amount in return.
Cardano warns that legitimate giveaways do not require users to send cryptocurrency first and that ADA transferred to scam addresses cannot simply be reversed once confirmed.
IOG’s immediate instruction remains for users to avoid interacting with the YouTube channel until the company confirms that control has been restored.
