Tech scammers are stealing millions of Bitcoin, Ethereum, and Shiba Inu (SHIB) via YouTube Live, according to a report. Scammers are using YouTube accounts to steal millions of dollars in crypto from viewers. Details cryptocoin.com‘in.
SHIB, BTC and ETH on target
Cybersecurity firm Tenable says digital thieves use fake celebrity descriptions to gain illegal profits through fake activities. Analyst Satnam Narang says scammers are using YouTube Live to create so-called live streams that broadcast prerecorded, copied and manipulated content. Analyst says:
To promote fake cryptocurrency giveaways on YouTube, scammers take a very simple template approach… Every video is worth considering [kripto] Includes a section with an irrelevant interview with figures…Videos include a section with the URL for the supposed event or giveaway. This section is not clickable, which means the user has to manually enter the URL to reach it.
When the audience visits the scammers’ website, they are asked to send money to a crypto address and are then said to receive double or more of their money in return. Scammers are stealing popular crypto assets including Bitcoin (BTC), Ethereum (ETH) and the popular memecoin Shiba Inu (SHIB). The scammers are using a large number of available interview footage featuring many of the major personalities. The report states that an important aspect of a successful scam is taking over an existing YouTube account that already has a large subscriber base. This leverage provides an air of legitimacy and increases the likelihood that a significant number of people will encounter the video.
Tenable states that after Musk appeared on the popular late-night comedy show Saturday Night Live in May, hackers made over $10 million through fake crypto giveaways.
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