How This Crypto YouTuber Scammed His Fans Out Of Over $4 Million

The info is taken up by our colleagues from Le Figaro: a youtubeur, at the origin of the chain Crypto Gouv managed to steal several million euros from its subscribers. According to the gendarmerie, the scheme would have targeted between 200 and 300 people. The channel had built up a community of over 4,000 members in just a few months. Until July 9, 2022, the youtubeur – whose identity remains unknown for the time being – exchanged crypto advice with them daily, via Discord and Telegram.

Enough to establish a real relationship of trust, which he obviously chose to abuse. As Le Figaro explains, the actual scam began when he offered his community to come together in “pools” or groups to invest together in order to bet more. He then asks them to entrust their funds to him with the promise of huge returns on investment. What lead some to invest tens of thousands of euros.

The Crypto Gouv chain disappeared with the money of its community

But on July 9, 2022, a dramatic turn of events: Crypto Gouv announces the end of the chain… and there is of course no question of reimbursing the community. The research section of the gendarmerie, which has been investigating since July, estimates the total damage at more than 4 million euros. About forty people have filed a complaint, but the gendarmes believe that the number of victims is probably more like 300.

Cryptocurrencies and their highly volatile prices are the source of great stories – with investors becoming millionaires overnight. Enough to arouse the appetite of malicious actors ready to surf on the lure of profit. It is therefore common to see fake accounts usurp the identity of personalities in an attempt to scam Internet users. However, this story shows that we must also be wary of channels that claim to give investment advice.

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Especially when the chain manager asks his community to entrust the money directly to him. Given the low number of plaintiffs compared to the total potential number of victims, the lawyer for the civil parties, Me Jeremy Asta-Vola, explains that he has launched an association to inform and help the victims. A Discord server has also been set up to allow the community to help each other.


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