Technology

Crypto influencer scams his followers and escapes with 4 million euros

The French Youtubeur behind the Crypto Gouv channel flew away with a hefty sum of 4 million euros. He really scammed almost 300 subscribers. The victims intended to establish the true identity of the thief, and the Paris prosecutor’s office launched an investigation.

In July last year, the Paris prosecutor’s office launched an investigation into the Crypto Gouv YouTube channel. Indeed, about forty complaints have been filed against the YouTuber, whose identity is still unknown. He managed to create a community of 4,000 subscribers on topics related to cryptocurrencies and Web3. In private Discord and Telegram groups, the thief gave free investment advice and market analysis to his subscribers.

The case of Crypto Gouv is sounding the alarm: now it is important to be careful before investing your savings in cryptocurrencies. Fraud multiplies to such an extent that even the FBI is mobilizing. According to a US Federal Trade Commission (FTC) report released last June, social media scams generated up to 700 million euros. It is also reminiscent of the scammers who have managed to attract a large number of Internet users with a digital currency called “SQUID” inspired by the Squid Game reference series. The people behind this scam managed to push the price of this currency from 0 to around $2,800 before it crashed to zero on November 1st.

See also: El Salvador plans to accept bitcoin as legal tender

Crypto Gouv: The French Youtuber Has Disappeared

The Youtube channel “Crypto Gouv”, which initially provided explanations regarding the world of blockchain and cryptography, has found itself at the center of a great controversy. After he managed to establish a trusting relationship with his followers, the YouTuber, whose identity is still unknown, would fly away with 4 million euros. The money would be stolen from his followers, whom he promised mountains and wonders with a pretty substantial return of up to +100% of their investment. According to Jeremy Asta-Vola, the plaintiffs’ lawyer, the amounts granted to him will range from a few hundred euros to several tens of thousands of euros. One of the victims admits that he lost 25,000 euros.

The victims gathered, and the Paris prosecutor’s office opened a fraud case. According to Jeremy Asta-Vola, there are more and more such cases of fraud: “There is a mass public that is interested in these practices. Inevitably, some attackers see this as an opportunity. This type of scam is on the rise. »

Also Read: 5 Cryptocurrencies Alternative to Bitcoin

Crypto Gouv: when a scam rhymes with nerve

On July 9, the famous Crypto Gouv channel published the final video, in which the man openly spoke about the schemes he came up with to escape with the savings of his subscribers. He even had the audacity to mention the fine incurred for this type of fraud.

On the Detectives Tokens Youtube channel, the victims expressed their disappointment: “It seemed to me that all the ideas he came up with came from us. In fact, it’s as if we were pushing it. We told him: But come on, do this, do that, we trust you. An encouragement they must have bitterly regretted.

It is important to note that it is extremely important to exercise great caution on social media. Sometimes fake accounts modeled after well-known influencers in the crypto world can add you on Instagram and talk to you in a private message to offer you a substantial return on your investment. It is also important to remember that your cryptocurrencies no longer belong to you after they leave your portfolio and that 100% returns cannot be achieved.

Read also: Dogecoin price rises after Elon Musk’s tweet

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