Beware of fake YouTube channel deceiving users into installing malicious scripts: Police and CSA

Members of the public are advised to be wary of a fake YouTube channel impersonating a trading platform, with videos aimed at deceiving users into executing malicious scripts that compromise cryptocurrency wallets.

This was shared by the Singapore Police Force and the Cyber Security Agency of Singapore (CSA) in a joint media statement on Friday (May 2). 

According to the statement, the fake YouTube channel, which bears the name and logo of trading platform TradingView, provided instructions for users to install a purportedly official application.

TradingView is a legitimate online platform used to chart and analyse financial markets, including stocks, forex and cryptocurrencies. It is downloadable as a desktop and mobile application via its official website.

The statement added that victims of the scam channel were directed to download and execute Windows PowerShell scripts containing a malicious PowerShell command.

Upon running the command, a Remote Access Trojan (RAT) was installed onto the victims' devices, compromising their cryptocurrency wallets.

It is not clear from the statement how many users had fallen prey to the ruse.

According to screenshots provided by the police, the fake TradingView channel which was discovered contained slight irregularities to its name and URL. The channel has since been blocked on YouTube.

Precautionary measures

The authorities reminded members of the public to avoid running unknown commands, clicking on unsolicited links or downloading attachments from unfamiliar sources.

They are also advised to use secure wallets to store cryptocurrencies offline, use strong passwords and enable two-factor authentication, the media statement noted.

It added that members of the public should regularly check their wallets for unauthorised transactions and stay updated on the latest security threats. 

Those who suspect that they have fallen victim to cryptocurrency-related crimes should halt further transactions or freeze their accounts and report these incidents to the police, said the statement.

jengjee.hoon@asiaone.com

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