- Crypto scammers hijack famous YouTube channels
- Channels are rebranded to Crypto exchange firms
- Large users has been cheated according to Google’s Threat Analysis report
Investing in cryptocurrency is a very challenging deal and the highest scope of risk for the users is getting scammed. Phishing scams are rising as the crypto industry is becoming more popular among the investors.
In the crypto market people are digitally connected around the globe with a huge interest to invest on digital currencies. This crypto scam is a fraudulent act involving criminals stealing money from entrants hoping to invest their life savings in digital assets.
As an example, hijacking criminals are hacking popular YouTube channels and rebranding it as a large tech or crypto exchange firm. More so, the Google threat analysis reports the hackers are breaking the accounts to broadcast crypto scamming contents.
YouTube Channels and Crypto Scam
Recently, a Google threat group found that a crew of hackers are hijacking the very famous YouTube channels. These channels consist of millions of subscribers with a huge popularity among the users. So the criminals hack these channels then rebrand the entire content to cryptocurrency exchange firms or large tech companies.
Moreover the group of hackers who were involved in disinformation campaigns were hired in a Russian-speaking forum. The hackers recruitment process was very professional with a job description offering two types of work. One is light advertising and full stack advertising preferring work roles into social engineering and different malware types.
Besides, after hacking the accounts the scammers will either sell it to the highest bidder or use it to stream cryptocurrency scams. In addition, on the basis of subscribers list, the market offers a range of $3K to $4K per channel. Also, the hackers will release a short attracting video promising for crypto giveaways in exchange for initial funds, adds the Google group.
Hackers Tactics and Strategies
However, to target and hack a large number of accounts, the hackers very smartly planned and processed some tactics. Cookie Theft or “pass-the-cookie attack” is a hijacking method which provides access to users accounts with the cookies captured in the browser. Through this, hackers used this technique to hack the accounts.
Followingly, hackers used another way approaching all Social engineering YouTubers with advertisement offers. In this method, hackers prepared and sent business emails representing a popular existing firm requesting a video ads collaboration.
Once the users accepts the offer a software download URL was sent via email or a PDF on Google Drive with phishing links. Through this, the Google analytics team traced around 15,000 accounts created to support the illegal campaign purposefully.
Thus with all cunning strategies the hackers were smart enough to disrupt the life saving of many users. But now the entire group is caught red-handed and some precautionary methods are shared to all users from the Google threat analytics team. So all investors and users must be aware of all risks and deals rising in the cryptocurrency world. Besides, it is also mandatory to know all possible ways to avoid and escape from these cryptocurrency scams.