YouTuber with 13 million subscribers hacked by crypto scammers; Here’s how much they stole

Popular YouTuber Scuba Jake has confirmed that his channel has been hacked with more than 13 million subscribers. The September 9 incident saw crypto scammers take over the channel and try to trick unsuspecting followers into getting a fake gift that includes Bitcoin (BTC) and Ethereum (ETH).

An analysis by Coinphony indicates that scammers stole 1.01 BTC, equivalent to about $21,000 in fake crypto payments. The analysis was based on QR codes that scammers shared for users to scan before sending cryptocurrency.

According to Blockchain.com, the shared Bitcoin wallet has recorded four transactions since its inception. The wallet received a total of 1.0107 BTC, the same amount that was also paid.

Scam bitcoin wallet analysis. Source: Blockchain.com

It should be noted that the amount lost may be higher because the scammers may have switched their wallets during the live broadcast. Elsewhere, an analysis of the Ethereum wallet indicates that no transaction took place.

The scam mirrored other scam incidents on YouTube where scammers use an old interview that includes a well-known person in crypto circles, repost it as a live stream and promote fake giveaways in the info section. Scammers allegedly choose the straightforward option as it gives more credibility.

How scammers deceived Scuba Jake’s followers

During the hack, the scammer changed Scuba Jake’s channel to “MicroStargey US”, impersonating a crypto-friendly US business intelligence firm MicroStrategy.

Notably, the scammers hosted at least two live streams of an old video featuring outgoing MicroStrategy CEO and Bitcoin wrestler Michael Saylor. In this case, the scammers lured unsuspecting followers to send cryptocurrency, thinking they would get a prize from Saylor or higher returns.

Screenshot of the hacked Scuba Jake account. Source: YouTube

Scammers targeted the treasure hunt channel, possibly due to its large following, considering that since its inception in 2011, it has cumulatively collected more than 1.7 billion views. The channel was restored by press time, and Jake confirmed the same through an Instagram story on September 10.

Scuba Jake confirms the hack on his YouTube channel. Source: Instagram

In general, cases of fraudsters exploiting YouTube have increased, affecting notable individuals and organizations. As reported by Coinphony, the scammers also hacked the South Korean government’s YouTube channel and shared an encrypted video. However, the government managed to recover the account.

YouTube Immediately Due to Cryptocurrency Scams

In the past, YouTube crypto scams have also targeted Elon Musk, CEO of Tesla (NASDAQ:TSLA). In particular, scammers have taken over various channels pretending to be Musk while promising to provide fake gifts.

The situation led to Musk blasting YouTube for allegedly doing nothing to address the scam in a tweet posted on June 7, 2022. Saylor also expressed frustration at YouTube’s failure to respond to the tweet.

In addition, investigations by anti-virus software company Kaspersky revealed that in addition to hijacking YouTube channels, scammers are increasingly looking to the comment section under videos to promote fake crypto services while offering low prices for certain currencies.

Notably, bad actors usually target trending videos and leave comments promoting a false “break-in” into the cryptocurrency market with attractive stats.

YouTuber post with 13 million subscribers hacked by crypto scammers; Here’s how much they stole for the first time on Coinphony.

Leave a Comment