Security Firm: Hacker Disguises Rug Pull Contract as Crypto Trading Bot, Spreading It Through YouTube Video

By: theblockbeats.news|2025/08/07 14:42:03

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BlockBeats News, August 7th, cybersecurity company SentinelLabs announced that it has discovered a series of cryptocurrency scams, in which hackers used a malicious smart contract disguised as a trading bot to spread and steal funds from cryptocurrency wallets.

The hackers utilized YouTube videos for marketing, where the videos explained the nature of the cryptocurrency trading bot and how to deploy the smart contract on the Remix Solidity compiler platform (a Web-based Web3 project integrated development environment (IDE)). The video instructions included a link to an external website hosting weaponized smart contract code. Additionally, the attackers managed the YouTube comments section, removing all negative comments.

Once victims deployed the smart contract, the attacker's wallet was added and hidden behind a disguised transaction address. After users deposited funds into the contract, the scammers were able to steal the funds.

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I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

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Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

II. Applicable scenarios

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Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

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IV. Benefits

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Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

Q3: Can I edit my published ads?
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