Crypto trader bot scam on YouTube looted 256 ETH: SentinelLABS
Main Idea
A widespread YouTube scam involving fake crypto trader bots has stolen over 256 ETH ($939,000) by tricking victims into depositing funds, according to cybersecurity firm SentinelLABS.
Key Points
1. Bad actors use aged YouTube accounts to lend credibility to fake crypto trading bot scams, which have been ongoing since at least 2024.
2. Victims are lured into depositing at least 0.5 ETH ($1,829) under false promises of profits, with one scammer wallet accumulating 244.9 ETH.
3. The scam operates through YouTube videos shared on social media, offering fraudulent trading tips and tools that steal crypto instead.
4. Scam accounts appear credible due to their age and engagement history, making them harder to identify as fraudulent.
5. SentinelLABS warns users to exercise extreme caution with crypto-related offers, especially those promising quick and risk-free profits.
Description
Aged YouTube accounts with a history of posting crypto news and investing tips have been taken over by bad actors to advertise a scam trading bot that steals crypto.
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