Authorities in Singapore are warning about a fake TradingView YouTube channel that tricks users into downloading malware, compromising their cryptocurrency wallets. Victims are urged to report incidents and take immediate action to secure their assets.
Authorities in Singapore have flagged a rising issue involving fake TradingView videos on YouTube. Several individuals reportedly fell victim to a scam that compromised their cryptocurrency wallets after interacting with these fraudulent channels. The warnings were issued in a joint statement by both the police and the Cyber Security Agency of Singapore (CSA).
TradingView itself is a credible platform known for its tools for financial market analysis, including stocks, forex, and cryptocurrencies. It’s available as both a mobile and a desktop application, and it’s essential for users to distinguish between genuine and fake content.
On May 2, the police and CSA revealed that unsuspecting victims encountered videos instructing them to download a so-called official TradingView app. However, these videos directed users to execute harmful Windows PowerShell scripts, disguised as legitimate commands.
The result? Victims installed a Remote Access Trojan (RAT) onto their devices. This malware was designed to give scammers access to the victims’ systems, leading to significant breaches of their cryptocurrency wallets.
To help prevent further incidents, authorities are advising the public against running unknown commands sourced from unfamiliar channels. It’s of utmost importance that anyone who suspects they’ve become a victim of cryptocurrency-related fraud should take immediate action by contacting their exchange. This could facilitate halting transactions or even freezing their account to protect their assets.
If a crypto wallet is suspected to be compromised, victims should transfer any remaining cryptocurrency to a different wallet as soon as possible to safeguard their holdings. Reporting the incident to the police is also urged, with an online incident reporting form available at the CSA’s website.
Phishing websites related to this cryptocurrency scam can be reported to the CSA’s SingCERT via email. Anyone affected by the fake TradingView scam can reach out to the legitimate company via their security and support emails.
For ongoing updates regarding scams and safety practices, members of the public are encouraged to check out the ScamShield website. Staying informed is key in today’s digital landscape, especially as scams become increasingly sophisticated.
Finally, for those wishing to keep up with developments, joining the Straits Times’ WhatsApp Channel could be a good way to receive timely news and must-read content.
