Cardano has a warning for the public about a recent scam. Someone created a fake Cardano giveaway, and the business wants everyone to know that this is not real. It is a scam designed to capture a person's information for potential malicious actions. The founder of Cardano, Charles Hoskinson, said that a YouTube account holder has created a keynote address and made a fake giveaway. Hoskinson issued this information in a tweet over the weekend.

In the tweet, Hoskinson stated that a scam was brought to his attention. It uses his conference keynote in order to promote a giveaway. The giveaway is a scam. He said that anyone who comes across it should report it to YouTube as a scam. Cardano will take legal action if they can find who is responsible for the scam.

The price of ADA, which is Cardano's digital coin, went up by more than 85% in the past two weeks. It went from $0.074 to $0.137. Cardano is in the middle of an upgrade to its ecosystem. It calls this upgrade "Shelley." After Shelley is in place, Cardano will be moving from a network that is centralized to one that is distributed.

After Hoskinson posted the tweet to his followers, YouTube deleted the video. However, YouTube only did that after Hoskinson also retweeted comments about scams that other YouTube ads are promoting. It seems like YouTube is not doing a good job at identifying scams without the help of company owners. Those company owners have to recruit their followers to report the scam and get YouTube's attention.

YouTube needs to bear more of the responsibility for the con artists who are taking advantage of the platform. While the situation can be a lot like whack-a-mole, YouTube has the technology and the staff experience to easily identify scams. After all, if YouTube can identify videos with adult content or potentially disturbing content, such as callus scraping videos, then it can also identify scams that are only designed to steal the information or the money of a company or a person who is hoping for a deal.