Scammers are exploiting old YouTube accounts to promote a fraudulent crypto trading bot that drains users' funds, according to SentinelLABS.

These scams specifically target individuals engaging with seemingly educational content, using malicious Ethereum-based smart contracts disguised as trading bots.

To enhance their credibility, scammers invest in aging YouTube accounts and populate them with legitimate-looking content, boosting visibility.

As of August 7, 2025, victims have collectively lost approximately 244.9 ETH, which is around $929,000.

SentinelLABS has identified multiple variations of the malicious contracts, complicating the tracking of the perpetrators, who may operate as a single entity or a group.

The malicious smart contracts are written in Solidity and employ various obfuscation techniques to hide the attackers' wallet addresses, making detection difficult for victims.

One notable video titled 'MEV Bot tutorial' has garnered over 387,000 views and was produced by the channel @Jazz_Braze, which built credibility through consistent pop culture content uploads.

Once deployed, these contracts drain funds directly from users' wallets, exploiting their trust in the tutorials provided.

Victims must deposit funds into the smart contract for the scam to function, with over 256 ETH (valued at over $939,000) reported stolen to date.

The scams have proven profitable, with the most successful campaign netting around 244.9 ETH, equivalent to $902,000, which was laundered through multiple wallets.

Alex Delamottea, a senior threat researcher at SentinelLABS, noted that the scammers often use multiple wallets and continuously adapt their tactics.

Delamottea advises crypto users to verify all external code sources and exercise caution with trading bots promoted through unvetted YouTube tutorials.