Corporate cybersecurity platform WhiteSecure has revealed an increase in USDT fraud on YouTube. According to the company's investigation, the prevalence of these fake video broadcasts exceeds three thousand, which is a critical problem that needs to be localised. The report further reveals that various fraudulent applications have been created that make false claims of providing significant returns on USDT investments.
Fraudsters who practice this kind of fraud often share the same character traits. They develop YouTube channels with a notable number of subscribers and views. Their activities include downloading stolen videos and creating artificial audience surges to fool YouTube's algorithms. Some fraudsters even use automated methods to simulate comments and make things seem real. Even the descriptions under such videos, which are SEO-style texts, are configured so that they are not detected by the YouTube search engine.
During its investigation, WhiteSecure revealed around 700 different URLs that were linked to USDT fraud. #usdminting is the hashtag associated with this type of fraud. WhiteSecure experts have identified 900 people who were defrauded of $100,000 between July and November 2022 based on transaction analysis.The transfer system used was complex, involving thousands of wallets making many small payments back and forth, making it difficult to trace the money trail.
