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28 March 2024
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Hacking Groups Stealing YouTube Channels To Broadcast Crypto Scams: Google Report


Groups of hackers are hijacking YouTube channels to promote crypto scams, according to a new report from tech industry titan Google.

In a new blog post, Google’s Threat Analysis Group says that bad actors are using Russian-speaking online forums to lure victims and gain access to their YouTube channels.ADVERTISEMENT

“The actors behind this campaign, which we attribute to a group of hackers recruited in a Russian-speaking forum, lure their target with fake collaboration opportunities (typically a demo for anti-virus software, VPN, music players, photo editing or online games), hijack their channel, then either sell it to the highest bidder or use it to broadcast cryptocurrency scams.”

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According to the report, scammers get ahold of YouTube accounts and then modify them to appear legitimate by mimicking well-known businesses in the crypto industry. The fraudsters then live stream videos that promote cryptocurrency giveaways.

“A large number of hijacked channels were rebranded for cryptocurrency scam live-streaming. The channel name, profile picture and content were all replaced with cryptocurrency branding to impersonate large tech or cryptocurrency exchange firms.

The attacker live-streamed videos promising cryptocurrency giveaways in exchange for an initial contribution.”

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According to Google, YouTube has detected and recovered 99% of stolen channels thus far.

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