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YouTube Crypto Tutorials Linked to $2 Million Scam

/ 1 min read

🎭 YouTube crypto tutorials expose a $2 million scam operation. An investigation revealed that numerous YouTube videos falsely instruct viewers on creating a USDT flash token, leading them to deploy malicious smart contracts that siphon their funds. Victims are misled into investing between 0.025 to 0.1 ETH, which is then transferred to hardcoded scammer addresses. The funds ultimately accumulate in a wallet holding over $2 million, which launders the money through platforms like Stake.com and ByBit. The scam’s reach is extensive, with hundreds of similar videos promoting the fraudulent scheme, raising concerns about the effectiveness of existing safeguards against such scams on social media platforms. Further analysis is needed to understand the full extent of the operation and the accountability of the involved exchanges.

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