• Menu
  • Skip to main content
  • Skip to primary sidebar

The Cyber Security News

Latest Cyber Security News

Header Right

  • Latest News
  • Vulnerabilities
  • Cloud Services
Cyber Security News

YouTube Fraudsters Steal $1.7m in Crypto ‘Giveaway’

You are here: Home / General Cyber Security News / YouTube Fraudsters Steal $1.7m in Crypto ‘Giveaway’
April 8, 2022

A team of online fraudsters manufactured almost $1.7m by promising cryptocurrency giveaways on YouTube, in accordance to Group-IB.

The Singapore-headquartered security seller claimed the gang ran 36 YouTube streams between February 16 and 18, attracting at minimum 165,000 viewers.

They applied footage of tech business people and crypto fanatics like Elon Musk, Brad Garlinghouse, Michael Saylor, Changpeng Zhao and Cathie Wood to insert legitimacy to their attempts. The channels them selves ended up possibly hacked or bought on the underground marketplace, Group-IB explained.

✔ Approved Seller From Our Partners
Mullvad VPN Discount

Protect your privacy by Mullvad VPN. Mullvad VPN is one of the famous brands in the security and privacy world. With Mullvad VPN you will not even be asked for your email address. No log policy, no data from you will be saved. Get your license key now from the official distributor of Mullvad with discount: SerialCart® (Limited Offer).

➤ Get Mullvad VPN with 12% Discount


The streams they created featured back links to at the very least 29 web sites with recommendations on how to double cryptocurrency investments. To participate, ‘investors’ ended up urged to ship a smaller sum of digital currency and advised they would then get two times that volume back.

Relying on the cryptocurrency and kind of wallets utilized, some victims were questioned to enter seed phrases to ‘connect’ their wallets. On the other hand, that enabled the fraudsters to attain regulate above their wallet and withdraw all cash.

In just just 3 times, the scammers received 281 transactions totaling pretty much $1.7m into their crypto wallets. Nevertheless, the precise range of victims and total amount stolen remains not known.

“The faux crypto giveaway scheme is not new, but evidently is still obtaining a moment. Further analysis of the scammers’ area infrastructure disclosed that the 29 websites were being element of a massive network of 583 interconnected resources all set up in the initially quarter of 2022,” explained Team-IB.

“Notably, there were a few times as quite a few domains registered for this plan in a lot less than three months of 2022 compared to the full of very last calendar year.”

Team-IB urged crypto lovers to be skeptical of absolutely free giveaways and not share private facts on line. Consumers ended up also suggested to test the legitimacy of any promotions and maintain any seed phrases stored securely with a password supervisor.


Some pieces of this write-up are sourced from:
www.infosecurity-journal.com

Previous Post: «Cyber Security News Microsoft: Nearly All Russian State Actors Now Targeting Ukraine
Next Post: Ukrainian FIN7 Hacker Gets 5-Year Sentence in the United States ukrainian fin7 hacker gets 5 year sentence in the united states»

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Report This Article

Recent Posts

  • WhatsApp Unveils Proxy Support to Tackle Internet Censorship
  • Hackers Using CAPTCHA Bypass Tactics in Freejacking Campaign on GitHub
  • Blind Eagle Hacking Group Targets South America With New Tools
  • US Family Planning Non-Profit MFHS Confirms Ransomware Attack
  • Microsoft Reveals Tactics Used by 4 Ransomware Families Targeting macOS
  • Dridex Malware Now Attacking macOS Systems with Novel Infection Method
  • Cyber attacks on UK organisations surged 77% in 2022, new research finds
  • WhatsApp to combat internet blackouts with proxy server support
  • The IT Pro Podcast: Going passwordless
  • Podcast transcript: Going passwordless

Copyright © TheCyberSecurity.News, All Rights Reserved.