Beware the YouTube Live Stream Crypto Scam

Crypto News

By Mark Hunter

15 hours agoThu Dec 30 2021 11: 06: 40

Crypto News Beware-the-YouTube-Live-Stream-Crypto-Scam

Reading Time: 2 minutes

  • Crypto scammers are still trying to steal your money through fake YouTube giveaways
  • The scammers flood YouTube with old interviews and conference talks from crypto luminaries
  • The videos are accompanied by fake giveaways designed to lure in marks

Cryptocurrency scammers are still flooding YouTube with old interviews from the likes of Vitalik Buterin, Changpeng Zhao and Michael Saylor which feature fake ‘giveaways’ that convince viewers to send in crypto and get more back in return. The scammers are also continuing to take over YouTube accounts that they can stream from, giving the scam an additional layer of legitimacy.

Crypto News How the Scam Works

The practice was first noticed in 2020, but there has been no let up in the scale of the operation, with new individuals constantly identified for inclusion in the fake giveaway scam. It is quite simple: scammers obtain an interview with a well-known person in crypto circles, republish it as a livestream and promote the fake giveaway in the information section.

Scammers believe that the “live” element gives more credibility than simply re-posting it in a video. The live chat and comments sections are also spammed with positive responses about the giveaway’.

Crypto News Phishing Used to Hack Genuine YouTube Accounts

The secondary part of this scam involves the use of legitimate YouTube accounts. This is done through phishing. Victims are tricked into downloading software, which in the background captures their computer and all system information. It then establishes remote connections.

The hacker then renamed their YouTube account to something like ‘Binance giveaway’. He also changed their public profile information to include the “giveaway” information and posted the fake interview.

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Crypto News How to Protect Yourself

To protect yourself from the ongoing scam, remember that hackers behave like vampires. They need to be invited into your life to cause havoc. To keep them away, you should treat any unsolicited messages or emails with suspicion and be cautious about engaging in conversation with anyone via YouTube or other social media sites. Don’t give cryptocurrency to anyone asking for it via social media., FullCrypto
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