Binance has published an open letter to YouTube and its community to warn against the serious problem of channel piracy.
For some time now, there has been a serious problem in the world's leading online video platform, which is not only penalizing YouTubers, but mainly encourages scams aimed at viewers.
As stated by Binance in the open letter, several YouTube channels are being "stolen" from their owners by exploiting phishing techniques and a browser vulnerability that allows hackers to gain full control of the administration of the channel.
Once the channel has been appropriated, the hacker sometimes simply asks the YouTubers for a cryptocurrency ransom and then returns it, but in other cases, it goes beyond that.
Often, in fact, especially If the channel has many subscribers, it is renamed using names that impersonate the major industry brands, including Binance, Binance Academy, Ethereum or other exchange companies. Then a video is published, often broadcast live, which offers cryptocurrency aerial launches.
In this regard, Binance says:
"These are scams. And they are damaging our industry. Binance Academy is a non-profit educational platform that provides free educational content to newcomers to the crypto and blockchain ecosystem. With the recent onslaught of YouTube hackers, we are now being falsely accused of maliciously hijacking creators' accounts and cheating their followers".
These scam attempts they have nothing to do with real brands, which are only exploited by the criminals involved to make their scam attempts look more credible.
The problem is that only Youtube, and therefore Google, can intervene to stop or prevent these scam attempts, and since they are proliferating, it would be useful if they could do so as soon as possible.
“Hackers are breaking various YouTube community guidelines, including phishing, copyright and scams. Unfortunately, right now, it seems that YouTube is struggling to keep up with these rapidly evolving scam tactics. YouTube has complex algorithms to prevent these things from happening, but it is impossible to counter this thoroughly. ”
By last, the exchange proposes a large-scale mass action, inviting everyone to send a complaint letter to YouTube, indicating a physical address or fax number to send the message.
Alternatively, suggest contacting the YouTube team on Twitter or for creators to contact their support service.
Based on the number of channels that are being hacked in this way with the aim of spreading scams among unsuspecting viewers, the problem seems very serious today. In addition, the fact that for now there seems to be no effective solution suggests that it is not being addressed.