The scammers have targeted the TradingView community with fake YouTube channels designed to trick users into downloading malware. According to the charting platform, these deceptive channels are cleverly designed to impersonate TradingView.
TradingView issued an urgent warning to only engage with the presence of official YouTube to avoid victims of these scams. Recently, fake YouTube channels pose as official TradingView accounts have skyrocketed in popularity, preying on the platform’s user base.
Increased threats of fake channels
These fraudulent channels reportedly use stolen or hijacked accounts with verified badges and a significant number of subscribers. By creating seemingly legitimate content such as live streams and tutorial videos, it induces unsuspecting viewers to download what is incorrectly advertised as a “developer version” or “cracked” paid application of TradingView.
“Cheaters create compelling YouTube channels that look like the official TradingView account, often using stolen or hijacked channels with a large subscriber base and verified badges,” the platform explained.
In fact, the files linked to these videos contain malicious scripts, usually Windows Powershell commands. This installs a remote access trojan (rat) on the victim’s device when run.
This malicious software provides unauthorized access to cybercriminals, steals sensitive information, including cryptocurrency wallet credentials, and allows victims to be able to release funds.
How to stay safe from fraud
The effects of these scams have been reportedly devastating for many TradingView users. The victim reported losing access to the cryptocurrency wallet after following instructions from these fraudulent channels. Scammers spend a lot of time making content reliable, often using deep fake personalities, positive fake comments, mimicking the real content of trading views.
To protect against fraud, TradingView is currently urging users not to download software from third-party sources. The only official apps, including mobile and desktop versions, are available directly on the TradingView website.
The company also said it would never ask users to run PowerShell or command line scripts to install the platform. Such a request should be treated as a major red flag. Another important tactic used by con artists is to provide “untrue, the better” deals, such as premium features and free access to gifts.
User Safety Guidelines
TradingView reportedly works with YouTube and law enforcement to identify and remove fraudulent channels. The company also asked the victim to disconnect the device from the internet and perform a thorough malware scan.
Change all passwords and notify your wallet provider, especially for cryptocurrency wallets or trading accounts. To protect your assets, consider transferring your funds to a secure wallet.
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