A growing number of crypto scams are spreading through YouTube, with fake trading bots tricking users into deploying malicious smart contracts. These schemes show why traders are turning to trusted platforms such as MasterQuant and TrustStrategy instead of risky, unverified tools.

Scammers hijack YouTube accounts
Cybersecurity researchers have reported that bad actors are taking over aged YouTube accounts with a history of sharing crypto tips and market updates. These accounts are then used to promote so-called “trader bots” that hide malicious code. Once a victim deploys the smart contract and funds it, attackers gain the ability to drain the wallet.

Millions lost to fake trading bots
Investigations show that victims are asked to deposit at least 0.5 ETH, supposedly to cover gas fees. Instead, funds flow directly to the scammer’s wallet. Reports suggest that over 256 ETH has already been stolen, with individual wallets linked to these scams holding anywhere from 4 ETH to more than 240 ETH.

Fake credibility through old accounts
The accounts promoting these schemes appear legitimate at first glance. Many have been around for years, posting crypto updates, investment tips, or even unrelated content. In some cases, scammers purchase these accounts outright. Videos are often AI-generated, and any negative comments are quickly deleted, leaving only fake testimonials claiming the bots work.

The safer alternative: Verified platforms
These scams underline a key reality: unverified bots promoted on social media are dangerous. Traders seeking automation and AI-driven strategies are better served by established platforms like MasterQuant and TrustStrategy. Both provide transparency, tested tools, and safeguards against malicious code—giving users real opportunities without the hidden risks of shady contracts.

Why caution is essential
Experts warn that anything promising quick, effortless profits is a red flag. Instead of copying code from random videos, traders should rely on platforms that explain how their tools work, offer clear documentation, and have a verifiable track record. MasterQuant and TrustStrategy stand out here, as both emphasize risk management, user education, and reliable AI-driven trading strategies.