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Scammers Steal $1.6m via New YouTube Crypto Giveaway | #socialmedia | #hacking | #aihp


Through yet another fake YouTube cryptocurrency giveaway, some scammers have made away with more than $1,680,000 from their victim’s crypto wallets after promising immediate high returns on cryptocurrency investments.

Group-IB, a Singapore-headquartered cybersecurity firm, disclosed this on Friday on its website.

The scammers defrauded the victims of the said sum between February 16 and 18, 2022, Group-IB said, adding that the exact number of victims and the total amount of stolen funds remains unknown.

The scammers were said to have run 36 fabricated cryptocurrency giveaways via YouTube streams and used footage of Elon Musk, Vitalik Buterin, Michael Saylor and other crypto enthusiasts from legitimate events to create their own fraudulent streams.

These YouTube channels appear to have either been hacked or purchased from underground markets, the company said.

Group-IB explained: “On average, such streams attracted between 3,000 and 18,000 viewers. One fake stream featuring footage of Vitalik Buterin drew more than 165,000 viewers who were promised that their crypto savings would be doubled in real-time.”

Through yet another fake YouTube cryptocurrency giveaway, some scammers have made away with more than $1,680,000 from their victim’s crypto wallets after promising immediate high returns on cryptocurrency investments.

Group-IB, a Singapore-headquartered cybersecurity firm, disclosed this on Friday on its website.

The scammers defrauded the victims of the said sum between February 16 and 18, 2022, Group-IB said, adding that the exact number of victims and the total amount of stolen funds remains unknown.

The scammers were said to have run 36 fabricated cryptocurrency giveaways via YouTube streams and used footage of Elon Musk, Vitalik Buterin, Michael Saylor and other crypto enthusiasts from legitimate events to create their own fraudulent streams.

These YouTube channels appear to have either been hacked or purchased from underground markets, the company said.

Group-IB explained: “On average, such streams attracted between 3,000 and 18,000 viewers. One fake stream featuring footage of Vitalik Buterin drew more than 165,000 viewers who were promised that their crypto savings would be doubled in real-time.”

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