Young artist Keyshon Butler confirmed on his Instagram page that his YouTube page was hacked on January 7, although he didn’t seem to know what the channel was being used for. The HiiiKey channel has approximately 249,000 YouTube subscribers.

American rapper HiiiKey’s YouTube channel was allegedly hacked and used to sell fake Bitcoin and Ethereum rewards that stole over $ 70,000 from ignorant users. The broadcast lasted over 7 hours and was still active in the press.

Taking control of his channel, the hackers completely redesigned the YouTube page and named it [Ethereum FUND] before deleting all other videos on the page. The attackers did not change the details of the channel’s “OM” tab, which still contains HiiiKey information and links to social media accounts.

The hackers used the site to download a live broadcast on January 7 that advertised the challenging Ethereum and Bitcoin reward. Due to the large number of subscribers to the channel, it seems that over 56,000 viewers are watching the live broadcast.

The live broadcast used an old video of Ethereum founder Vitalik Buterin talking about the launch of the Beacon Chain and the transition to Ethereum 2.0 before December 2020. The video was covered in text advertising a grant of 40,000 ETH and 3,000 BTC from a fake website.

Users were then offered blended refunds through an airdrop that required sending ETH or BTC to specific addresses. The participants were promised to receive twice as much cryptocurrency, which they sent to the addresses.

A quick search for the ETH address listed on the site reveals that at the time of publication, the hackers had received a total of 39.1 ETH, worth about $ 47,260. The BTC header received just over 0.6 BTC, which is currently around $ 22,000.

No gifts were mentioned either in the official Ethereum Twitter account or in Vitalik Buterin’s account. Cointelegraph also reached out to HiiiKey for comment and received no response at the time of posting.

This is not the first time a high-profile YouTube account has been hacked and used to promote fake cryptocurrencies. In August 2020, hackers took control of technology critic John Prosser’s channel and renamed it NASA News.

Attackers used videos of Tesla boss and SpaceX founder Elon Musk to promote the BTC scam. Fake SpaceX channels have found scammers with over $ 150,000 in bitcoin by 2020.

YouTube’s legal team previously indicated that the platform cannot be held responsible for cryptocurrency scams taking place on channels. This was in response to a lawsuit filed by Ripple in April 2020 over the number of fraudulent sites imitating the company and the XRP token.

Source: CoinTelegraph