Russia’s Kaspersky Warns Scammers Post Crypto Wallet Seed Phrases on YouTube to Steal Funds

Scammers Hijack YouTube Comments with Seed Phrase Tricks Scammers have started to increasingly exploit YouTube’s comments feature to scam cryptocurrency owners. By posting seed phrases accompanying very fake pleas for help, they get individuals to engage multi-signature wallets designed to actually steal their funds. Kaspersky’s latest findings have brought this to the fore and called for vigilance. How the Scam Unfolds The scam starts innocently enough, with the scammers playing the rookie. They leave comments under YouTube videos of finance-related content, claiming not to be able to access their wallets and providing a seed phrase for help. For some, the bait is simply too irresistible: a wallet full of Tether-but nobody can access it without more TRON to pay for transaction fees. Unknowing victims start sending TRX to this wallet, only to realize their tokens are instantly forwarded to some other address. The multi-signature wallet is created so slyly that whatever the victim transfers is retained by the scammer. Community Reactions and Expert Warnings These scams haven’t gone unnoticed in the wider crypto community. Notably, CEO Changpeng Zhao of Binance has issued warnings to users against engaging any wallet that requests private keys or seed phrases, as such cases usually end in theft. His statements align with the findings presented by Kaspersky and are a call for crypto users to be security conscious. Key Takeaways from Kaspersky Analysts at Kaspersky’s cybersecurity have underlined this scam as particularly insidious because of the way it uses the technical difficulty of multi-signature wallets to hoodwink the targets. Their recommendations include: Never share the seed phrases: These are your wallet keys, and it should remain confidential. Look out for suspicious comments requesting help involving a seed phrase. Verify wallet authenticity: A wallet is a configuration that is supposed to be understood in advance of use. Global Impact and Sanctions The report comes as Kaspersky itself is under scrutiny on the global stage. This June, the U.S. imposed sanctions on 12 of its top executives at Kaspersky over cybersecurity concerns. Those moves came after accusations that the company had threatened national security, further complicating its efforts to warn people about scams like these. Protect Yourself Against Crypto Fraud This is one clear evidence that crypto scams will stop at nothing, literally growing in their methods of deception day by day. Indeed, the user must be very cautious, more so when some comment in their posts seems too good to be true. Keep wallet security a priority; remember, no valid entity will ask for your seed phrase. Being up to date and taking necessary precautions, crypto holders can avoid such smart, sophisticated schemes.