Hackers use YouTube for massive theft of Ethereum cryptocurrency

Fraudsters are using fake YouTube videos to promote fake crypto trading bots, which leads to the theft of Ethereum ETH $4,357.47 Bridged Ether (StarkGate) -0.96% Market capitalization $0.11 billion VOL. 24 hours $2.38 billion from users. According to Cointelegraph, a wave of fraudulent videos has recently emerged where attackers advertise allegedly profitable automated cryptocurrency trading programs.

The scheme works as follows: fraudsters publish videos promising quick and easy earnings thanks to a special «trading bot». Users are offered to download the program or use a link to activate the bot. After installing or connecting a wallet, the program gains access to personal keys and, as a result, steals funds, including Ethereum.

Analysts point to the characteristic features of such videos: excessive promises of profits, lack of verified information about the developers, and calls to «seize the opportunity» immediately. Most often, fake accounts imitating famous bloggers or crypto investors are used to distribute fraudulent programs.

Experts recommend carefully checking any offers, not downloading suspicious programs, and not entering private keys or seed phrases on third-party resources. Users should remember that no legitimate service will require access to your personal data to trade cryptocurrencies.

The growing number of such fraudulent schemes demonstrates the need to increase digital literacy and caution among crypto market participants.