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Bloomberg does not publish Bitcoin on YouTube

May 16, 2020

Fraudsters broadcast Michael Bloomberg’s speeches on YouTube, claiming that the former presidential candidate is giving away Bitcoin (BTC)..

Michael Bloomberg is giving away BTC

On May 14, there were at least two such incidents with an apparently combined audience of almost 60,000 people.. The Fraudsters asked viewers to send between 0.1 BTC and 250 BTC to the video’s Bitcoin addressvery promising Return the double value. The broadcaster claimed that Michael Bloomberg facilitated the introduction of cryptocurrencies through this mechanism. All related videos have now been removed from YouTube.

Bloomberg does not publish Bitcoin on YouTube
Bloomberg does not publish Bitcoin on YouTube

Screenshots of the streams on YouTube. Source: Cointelegraph.

According to WHOis.net, a domain linked to the fraud was apparently registered via a Russian registrar on May 14, 2020.

Screenshot of the domain registration bloombergbtc.net. Source: WHOis.net

The scammers deserve 1 BTC? The scammers deserve 1 BTC?

The Bitcoin address provided by hackers received six transactions between May 14 and 15. The transactions amounted to 0.92355084 BTCor about $ 8,800. It is unclear whether this money came from the victims or whether the fraudsters sent their own coins to the address to make them appear more legitimate.. Obviously, no bitcoins were sent from this address.

The bitcoin address of the scammers. Source: blockchain.com

Cointelegraph contacted Chainalysis to see if additional information about these transactions could be provided.s. A representative of the company He told us that the bitcoins probably came from the victims. They continued:

“We’re taking a closer look and it seems that most of the other deposit addresses come from exchanges, so we’re assuming that these deposits came from victims.”

Furthermore, Chainalysis assigns this address to fraudulent activity in its database. This will make it difficult for fraudsters to collect their illegal profits..

Crypto theft is a multi-billion dollar industry. Social media platforms don’t always seem to be well equipped to prevent this or respond quickly when such scams occur.