South Korea's YouTube channel has been hacked by crypto scammers

An official South Korean government YouTube channel was hacked by scammers and rebranded as SpaceX Invest. A fake video of Elon Musk was subsequently uploaded to the channel, in which the prominent entrepreneur allegedly promotes cryptocurrencies.

Yesterday, September 3, the relevant government channel was briefly taken over to post live streams and videos related to rogue crypto projects. However, South Korea's government was able to regain control of the account within four hours, according to the Yonhap news agency ( YNA) .

As shown in the YNA screenshot above, the channel was temporarily renamed SpaceX Invest to suggest a fraudulent affiliation with Elon Musk's space company. Fake videos then falsely gave the impression that Musk would recommend investing in related crypto projects.

The hacker attack on the account was able to succeed in that the username and password were cracked, as confirmed by YouTube operator Google.

The recent hacker attack on the DeFi project KyberSwap, in which 265,000 US dollars in customer funds were stolen, had a similarly mild outcome. The market-leading crypto exchange Binance, to which the stolen funds were deposited, was able to find two guilty people afterwards.

As Binance boss Changpeng Zhao reported, the Binance security team has now forwarded the identities of the two suspected hackers to KyberSwap and the responsible police authorities. In light of this, one crypto user notes: “Binance is now taking on the role of 'Big Brother' in the crypto industry. Binance no longer just secures its own platform, but the entire crypto ecosystem.”

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