Steve Wozniak Accused YouTube Over Fake Crypto Ad That Fooled Viewers

The scheme used actual footage of Wozniak discussing Bitcoin and edited it to appear as if he was endorsing the offer. It attempted to trick viewers into sending cryptocurrency, which promised they would receive double the amount in return.

Wozniak told CBS News, "Some people said they lost their life savings. That’s a crime. A good person, if you see a crime happening, you step in and try to stop it".

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He discovered the scam after his wife, Janet, received a message from someone who had sent Bitcoin and was asking when they would get it back. Janet said:

They took a real video of Woz talking about Bitcoin. Then they added a nice frame with a Bitcoin address, and said he’d send back double whatever you gave.

Wozniak filed a lawsuit against YouTube in 2020. It claimed that the company failed to remove the fake content in a timely manner.

He also pointed to the rising number of fake messages and impersonation attempts online. He said, "Look at spam, look at the phishing attempts just all over the place. And there's not enough real, I don't know, muscle to fight it".

On August 5, SentinelLABS reported that old YouTube channels that once posted tech or crypto videos are being used to promote a scam. How? Read the full story.