On YouTube, the number of fraudulent videos has increased by 500%

CertiK, a company that analyzes cryptocurrency projects for security factors, reported that a lot of fraudulent videos have appeared on YouTube. On them, the authors promise to provide a leading bot that will help in making money. CertiK reported that about 84% of these videos are fraudulent.

The operation of such a bot, they say, can scan unconfirmed large transactions in the mempool and pay a more significant cost for gas in order to guarantee the transaction. Such a move will help to manipulate the market to some extent and help them earn.

With the help of such videos, attackers lure victims and gain access to their assets, after which they take cryptocurrency funds when they try to initiate a transaction using the method they advertise.

Fraudulent videos reinforce the trust of inexperienced traders through bots writing positive comments that are confusing. Under such videos, there are also real reviews that indicate that this is a trick, but it is quite difficult to detect them due to the work of bots.

This is not the first time that law enforcement officers from CertiK have uncovered dark schemes for making money. Previously, they revealed black methods of fake verification of the KYC (Know Your Customer) procedure.