Experts warn of the increase in cryptocurrency scams on YouTube

July 8. (Portaltic/EP) –

The use of cryptocurrencies As a method of virtual exchange it continues to thrive, with cybercriminals increasingly turning to channels like YouTube to perpetrate ‘phishing’ scams.

According to the latest records of the cybersecurity software developer company Kaspersky, while in 2021 its products detected and prevented a total of 460,000 attacks of this type related to cryptocurrencies, in the first two and a half months of this year were counted 100,000 scams.

Researchers have warned of a rise in this type of fraud on Google’s streaming video playback platform, where hackers have been shown to carry out a very particular modus operandi, as the company has indicated in a statement sent to Europa Press.

Specifically, they choose videos that are trending on YouTube and leave comments, ensuring that there is a false “gap” in the cryptocurrency market. These encourage viewers to visit the author’s own YouTube channel and watch a video that provides instructions on how to profit from an alleged exchange rate error.

In addition, a fraudulent link is included in the description space of the video through which the user, presumably, you will be able to make a profitable exchange of bitcoin when, in reality, you will never get that money back.

In order to stop this type of threat on YouTube, the company has recommended choosing, first of all, a secure wallet, as well as a program that protects private and public passwords to access it.

Next, it is advisable to adopt measures to protect the investment, that is, choose currencies that are recognized, such as Bitcoin or Ethereum. These currencies do not usually rise in price like the so-called ‘altcoins’ (alternative and little-known cryptocurrencies).

By choosing the most popular ones, it will be easier for users to find a buyer in case they need to get rid of the tokens urgently.

It is also important to read the fine print when choosing a cryptocurrency and a specific exchange platform and always be wary of those that promise impractical benefits.

Likewise, it is important to be alert to unexpected messages about the loss of money and accounts or transfers, gifts and winnings, which are always a trap.

Careful review of links and installation of an antivirus solution to protect yourself against these ‘phishing’ attacks are also some of the usual recommendations to protect systems from this type of fraud.