Bad actors are using aged YouTube accounts to promote a crypto trading bot scam that drains funds from victims. The scam has been ongoing since at least 2024, with over 256 Ether (ETH) stolen so far. Victims are urged to deposit 0.5 ETH, worth $1,829, to cover gas fees and ensure profits. Scammers have received over $939,000 collectively.

The scam involves deploying a smart contract disguised as a trading bot. Once the victim funds the contract, the scammer gains access to drain the funds. The YouTube accounts promoting the scam appear credible due to their history of posting crypto news and investment tips. Negative comments are deleted, and fake testimonials claim success with the bot.

Crypto traders are warned against deploying tools promoted through unverified social media or video content. Scams like these are becoming more common, and users should avoid anything promising quick profits with minimal effort. It’s crucial to research and validate trading tools before use. Stay cautious of influencer videos offering easy money.

Read more at Cointelegraph: Crypto Trading Bot Scam Nabs Victims via YouTube