Beware: ‘Free Bitcoin’ scam going on on YouTube

You have to be careful. There is a ‘Free Bitcoin (BTC)’ scam on video platform YouTube. Unfortunately, victims have already been made.

Investigation

According to a report from BleepingComputer, YouTube was told to remove fraudulent videos when they are reported. However, the problem is that users who upload these videos simply create a new account and re-post the same video.

Tool for free Bitcoin

The video shows how people can ‘generate’ Bitcoins for free using a tool. People can then download the tool themselves through a link in the video description. Once people download this, they immediately download the Qulab Trojan. This is activated when the tool is installed.

Qulab Trojan

The Qulab Trojan software first tries to steal user information. In addition, he also tries to steal cryptocurrencies from the victims. They do this by scanning the computer for cryptocurrency addresses that are then replaced by the attacker’s addresses. This causes the attacker to intercept transactions.

This strategy is therefore quite successful, due to the origin of a crypto address. Because these are random letters, many people obviously do not know them by heart. As a result, it is not immediately apparent that such an address has been exchanged.

So watch out for videos on YouTube and other platforms that show these types of tricks. When something seems too good to be true, this is often the case.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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