Home Business Scammers steal “millions” in cryptocurrency in last month: Report

Scammers steal “millions” in cryptocurrency in last month: Report

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Cybersecurity firm Tenable has warned users to be alert to fake cryptocurrency giveaways on social media, as fake Bitcoin, Ethereum, Dogecoin, Cardano, Ripple and Shiba Inu giveaways proliferate on platforms such as YouTube Live.

“While scammers hijacking legitimate YouTube accounts to promote fake cryptocurrency giveaways are not new, individuals are still being duped, making these scams extremely lucrative,” Tenable said in an official release.

It has calculated that, across a subset of YouTube Live scams encountered over the last month alone, scammers have stolen at least $8.9 million.

“Scammers are leveraging compromised YouTube accounts to promote fake cryptocurrency giveaways for Bitcoin, Ethereum, Dogecoin, Cardano, Ripple, Shiba Inu and other cryptocurrencies,” said Satnam Narang, Staff Research Engineer at Tenable.

“The Bitcoin scams monitored received $8.2 million in stolen funds, for an average amount of $1.6 million per scam. Ethereum…

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