The WhiteSecure corporate cybersecurity solutions platform has revealed an increase in cases of fraud with USDT on the YouTube video hosting platform. The results of the WhiteSecure study indicate the need to take control of the situation, since the number of fake video broadcasts they found exceeded three thousand.
The cybersecurity company’s report states the discovery of several fraudulent applications posing as investment companies in USDT. Their potential victims are invited to make investments with a huge return on investment.
Scammers engaged in this type of deception have several common characteristics. They manage YouTube channels with a significant number of subscribers and views. The essence of their work is to publish stolen videos and generate inadequately high activity of viewers who deceive YouTube recommendation algorithms.
Some criminals used automated systems to copy and add comments to their videos to make everything look realistic. Even descriptions under such videos that take into account the style of SEO texts are adjusted so that the YouTube search engine does not find any error in them.
During the study, WhiteSecure identified about 700 unique URLs involved in fraudulent activities related to USDT. #usdminting is a hashtag associated with this type of fraud.
Based on the analysis of transactions, WhiteSecure specialists identified 900 victims from whom fraudsters lured funds for $ 100,000 in the period from July to November 2022. The mechanism of transactions is such that thousands of wallets make small but multiple transfers among themselves, which complicates the tracking of cash flows.