Hackers hijacked established YouTube channels with crypto history to promote fake trading bots, stealing over $939,000 in Ethereum from victims.
Scammers embedded malicious wallet addresses in smart contract code, instantly draining funds when users deployed the contracts with a minimum of 0.5 ETH deposits.
Another day, another scam in the crypto planet. Hackers have carried out an elaborate cryptocurrency scam via hacked YouTube channels to advertise malicious trading bots. Cybersecurity researchers have reported that the scheme has stolen more than 256 Ethereum tokens, worth about $939,000.
Scammers Use Aged YouTube Accounts to Build Credibility
Researchers of SentinelLABS found out that scammers are taking over existing YouTube channels with a history of cryptocurrency coverage and investment recommendations. These elderly testimonies give legitimacy and authenticity to their misleading advertisements of automated trading bot software programs.
The fraud works by p
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