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Link copied YouTube Joins the Fight Against XRP Crypto Scammers, Helps Recover Hacked Channel
Credit: Alexander Shatov/Unsplash
Tue, 02 May 2023, 08:24 am UTC
SAN FRANCISCO — YouTube has helped recover a hacked channel after preventing an attempt to promote an XRP cryptocurrency scam on the popular YouTube channel, DidYouKnowGaming, which has 2.4 million subscribers.
Last week, the DidYouKnowGaming team announced on Twitter that they had lost access to their YouTube channel after their Google account was hacked.
In response, YouTube acted quickly, requesting certain information from the YouTuber to help them regain access to their account. The hacker who gained access to the DidYouKnowGaming channel changed its profile image to the logo of the XRP cryptocurrency and attempted to promote a scam related to the token.
Unfortunately, the recent incident is not an isolated one, as an increasing number of creators have fallen victim to such hacks, including larger channels such as Linus Tech Tips.
The risk posed by such hacks has increased with the rise of deepfakes, which can generate fake impersonation videos of well-known public figures to mislead investors. Tencent has recently launched a deep-fake tool that allows anyone to impersonate someone else for a fee.
Cryptocurrency investors frequently use YouTube to learn more about Web3, blockchain, and cryptocurrencies, with many channels and resources available on the platform.
However, April saw a series of crypto scams, hacks, and exploits that saw over $103 million of funds stolen from unsuspecting investors and projects.
CertiK reported that total funds lost to exit scams reached $9.4 million in the month, with the top exit scam for the month being Merlin DEX, which lost $2.7 million.
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