Cardano Founder's YouTube Channel Hacked to Push Crypto Giveaway Scam

Input Output Group (IOG), the company behind the Cardano cryptocurrency, has confirmed its YouTube channel was hacked. Attackers used the compromised channel to broadcast a livestream featuring an AI-manipulated version of founder Charles Hoskinson, posing as an official Project Catalyst town hall and promoting a scam that claimed viewers could "double" their crypto holdings by scanning a QR code.

Hoskinson and IOG both issued public warnings telling users not to trust any videos, links, or QR codes currently appearing on the channel while they work with YouTube to remove the content and reset credentials. This type of scam, sometimes called a giveaway scam, relies on impersonating a trusted figure to convince victims to send funds with the false promise of receiving more back. What makes this incident more dangerous than typical impersonation attempts is that the scam appeared on a genuine, verified official channel rather than a fake lookalike account.

Cardano's own security guidance already lists fake Hoskinson livestreams and "send crypto, get more back" offers as known scam formats, and legitimate giveaways never require participants to send money first. Businesses and individuals who follow crypto-related channels should treat any sudden promotional livestream asking for payment as a red flag, regardless of how official the source appears.