Cybercrime remains one of the most important areas of concern for the cryptocurrency community. The prevalence of cyber attacks in this space has caused widespread loss of wealth. At the same time, repeated attacks give governments a safe ground to impose stringent regulations that end up becoming a hindrance to innovation in the sector. As a result, many countries now have a strict policy against crypto cyber attacks. Jurisdictions do not take responsibility for such crimes, and unaware users continue to get duped.
However, recent trends have shown that victims do not necessarily need to be unaware of crypto-associated crimes. In a recent series of cyberattacks, many popular YouTubers found counterfeit videos on their channels. These videos were redirecting people to the hacker’s crypto wallet address and asking them to deposit cryptocurrencies there. Many prominent YouTubers who talk about crypto and finance were affected by this attack. Upon realizing the hack, they deleted the fake videos from their channels. It is not yet known whether anyone actually lost their money to this scam. Nonetheless, it could have been very severe considering the popularity of some of these YouTubers. Some of the most popular accounts to be affected are:
- BitBoy Crypto’
- ‘Altcoin Buzz’
- ‘Box Mining’
- ‘Floyd Mayweather’
- ‘Ivan on Tech’
- ‘The Moon’
These events highlight the vulnerability of the crypto world and the sophistication of hackers. As security protocols have strengthened, so have hacking abilities and techniques. To counter hackers, the general investor has to be both knowledgeable and aware of the workings of crypto-related cyberattacks.