A new and highly deceptive cryptocurrency scam has emerged, exploiting YouTube comments to trap unsuspecting individuals and unethical actors. 

Scammers are posting cryptowallet seed phrases in the comment sections of finance-related videos, baiting victims into what appears to be an opportunity but is actually a cleverly designed trap, according to KasperSky.

One comment reads: "I have USDT stored in my wallet, and I have the seed phrase. How to transfer my funds to another wallet?" At first glance, it seems like a rookie mistake by a cryptocurrency novice. However, deeper scrutiny reveals a calculated ruse orchestrated by scammers using newly created YouTube accounts.

The scam operates by presenting a complete seed phrase—a sequence of words that provides access to a cryptowallet—alongside a plea for help. Those tempted to test the phrase discover a wallet that appears to hold thousands of USDT, a stablecoin pegged to the US dollar. However, withdrawing the funds requires a fee in TRX, the native token of the TRON network.

What happens next is the genius of the scam. As soon as the opportunist transfers TRX to cover the withdrawal fee, the tokens are immediately funneled into a third wallet controlled by the scammer. The fraud relies on a multi-signature mechanism, requiring approval from multiple parties for outgoing transactions. This feature renders the USDT untouchable, leaving the would-be thief out of pocket and unable to complete the transaction.

“Finding thousands of dollars in someone else's wallet might seem like a stroke of luck, but it’s a calculated setup,” said a cybersecurity analyst familiar with the scheme.

This elaborate scam not only secures the scammers' gains but also operates under a moral pretense, targeting those who attempt to profit from the apparent mistake of others.

Kaspersky, a cybersecurity firm, has highlighted the need for vigilance in the face of evolving scams like this. “Scammers are constantly adapting their methods, exploiting both new and experienced cryptocurrency users,” the company stated in a recent report.