Investigations found hundreds to thousands of malicious crypto‑related ads and YouTube videos that direct users to fake wallet downloads or malware, often impersonating exchanges and crypto celebrities to lure victims. Platforms are under pressure to remove scams and protect users.

Security researchers and reporting have uncovered widespread malicious advertising campaigns on social platforms and YouTube that promote fraudulent cryptocurrency wallets, rigged trading apps and fake giveaways. These ads and videos commonly impersonate well‑known exchanges, wallets or influencers to build credibility before directing users to download desktop clients or browser extensions that contain malware designed to steal private keys and seed phrases. In many instances, the malicious landing pages host fake recovery tools or phishing overlays that trick users into entering credentials or signing harmful transactions. Platforms have removed some content, but the volume and rapid reappearance of new campaigns make enforcement difficult. Authorities advise downloading wallet software only from official project websites, verifying signatures and hashes where available, and using hardware wallets for significant holdings. Users should report suspicious ads and videos to platform abuse teams and, if funds are stolen, file complaints with law enforcement and the FBI’s Internet Crime Complaint Center. The incidents underscore the persistent threat to crypto users from blended phishing, social engineering and supply‑chain attack vectors.