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A YouTuber stole 4 million euros from his subscribers

About 40 people filed complaints about the cryptocurrency scam. BENOIT TESSIER / REUTERS

Under the guise of advice, the YouTube channel “Crypto Gouv” allegedly scammed between 200 and 300 people. The Paris prosecutor’s office opened an investigation.

The good Samaritan who gave crypto investment advice was a scammer. On YouTube, for three weeks, videos talking about fraud have been flourishing. “Crypto Gouv,” a channel that netizens flocked to for cryptocurrency investment advice, is reportedly the source of stealing funds from its community. The damage would amount to 4 million euros, according to a source familiar with the matter.

In a few months, the YouTuber, whose identity is unknown, gathered 4,000 subscribers with whom he communicated daily on Telegram or Discord. Through the advice provided, trust is established between Crypto Gouva and its potential investors. He offers them to meet in “pools”, groups to invest together and asks them to trust him with their funds. The promised return on investment is significant. In a very short time, the scam is bound. “Investors invested a hundred euros, others several tens of thousands of euros“, the prosecutor’s lawyer, master Jeremy Asta-Vola, confided to Frans Inter.

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The video exposes the scam

Not without cynicism, on July 9, Crypto Gouv announced on its usual chat channels that it was disappearing with funds. “It’s as if you entrusted some sum to a financial investment advisor and he just walked away with your money.“, explains Me Asta-Vola. In what appeared to be the last tutorial posted on Youtube, now untraceable, he details the underside of this scam. As reported by France Inter, the investigation opened by the Paris prosecutor’s office in mid-July was entrusted to the gendarmes of the investigation department. About 40 people filed complaints, but up to 300 people are said to have been affected.

The fraudster faces a sentence of up to five years in prison, as he himself recalls in his latest video. With the market attracting more and more people, you need to watch out for cryptocurrency scams that are on the rise. “There is a mass audience that is interested in these practices. Inevitably, some malicious people see this as an opportunity“, warns Jérémy Asta-Vola. A Discord server has been set up to help victims, and a lawyer has announced the formation of an association to “inform and assist victims” of fraud in their efforts.

SEE ALSO – Dany Boon, a victim of a multimillion-dollar fraud in Ireland


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