Cryptojackers increased YouTube activity sixfold
Analysts have estimated that the number of videos offering fast earnings, but in fact aimed at stealing users' assets, has increased by 500% compared to last year
Cryptojackers have begun posting six times as many asset-stealing videos on YouTube as they did last year, according to a report by Certik, a Web3 and blockchain security company.
The analysts investigated a popular scam in which users are offered an easy way to earn money on social networks by uploading a special bot program to YouTube based on video instructions. This bot is supposed to bring profit, but in fact it deducts money from the victim's crypto-wallet.
Certik's research analyzed YouTube for videos mentioning the phrase "fake bot" and found that in a sample of 232 videos, 84% were fraudulent. The selected videos started circulating last year, but this year there has been a 500% increase in their number: analysts found 28 such videos in 2021 and 168 in 2022.
The report says that many videos can be immediately identified as fraudulent already by their titles: "Increase assets 10x in a day!!!", "Uniswap Front Running Bot 2022 - just a guide (huge profit), "Cryptobots leak $15,000! - 50x profit!" and the like. Certik noted that all of these videos have common themes: free bot and huge profits.
Analysts warned that you should never run programs from unverified sources, as well as those whose action is not fully understood. You should also be careful with any trading strategies or techniques which promise inflated profitability.
The other type of fraud on YouTube is the counterfeiting of videos with famous people. In September, scammers took advantage of the fact that Apple was holding a new phone presentation and launched parallel broadcasts promoting cryptocurrencies allegedly on behalf of the company.