Caspian Report, an Azerbaijani based Youtube channel with some 600,000 subscribers that focuses on geopolitical analysis has been hacked.
It’s unclear how they took control, but they used it to broadcast a fake ‘livestream’ of an ethereum conference which they wrapped up in scammy ‘giveaways.’
The event itself did happen and the video is real, but it’s an old video and obviously there were no giveaways, with this being a typical scam of send 1 eth and they send 2 back, except they don’t send anything back at all.
The channel itself, Caspian Report, has nothing to do with cryptos but with that title of ETH 2.0 Halvening 2020, and live, you can be sure plenty would have wondered what on earth is this.
Some were commenting online that this was some sort of bitcoin scam, with ethereum obviously not having any halvings.
At the top then we have the pretense this is from the ethereum foundation, with these scammers seemingly trying to do two things.
In the bottom half with the Caspian Report logo they’re trying to make it look like this is from the Caspian Report. While with the top half they probably aiming at how it looks in rankings so they’ve pretended it’s ‘official’ from the Ethereum Foundation.
Youtube has gotten a bit better at dealing with it, but they clearly keep failing with no such scammer hackers caught so far as far as we are aware.
Considering they openly post their addresses and that this has been going on for years, you’d expect someone to be locked up.
Yet authorities might not have the bot tracking capabilities with leet coders obviously in great demand in for profit markets where they can get $1 million a year or strike it big in a start-up.
In addition it is probable these are script kiddies copying some ‘how to’ that may have been posted somewhere with effective enforcement here probably requiring breaking up some cell.
They’re quite effective at doing so when there’s great public attention. The recent Twitter hacker was caught for example. He turned out to be just 17.
Older coders obviously know they can earn very good money in the market without risking soaps, but for teenage kids even $1,000 is a lot of money.
So while the damage being done here can be considerable, the ‘reward’ they receive from very few that get duped is small with addresses usually receiving between $500 to $20,000 in total.
There are some benefits however. All the Caspian Report guys now know what is eth and these kids are kind of strengthening Youtube’s weaknesses with it unclear why it looks like it is far too easy to take over these channels.
However, there has to be some way of channeling their drive and skill towards more positive endeavors with both the government and the market capable of playing a significant role here in identifying these kids to then facilitate more appropriate challenging activities.
Hackathons are one such attempt, but what may be even better is some sort of meritocracy fund.
Now what they doing these kids deserve nothing, but they may well be poor, and if they have talent they shouldn’t just be sent to a good school, but should also be given money outright.
In addition for coders especially there should be clubs of sorts where these kids can be channeled towards more positive activities by what they think are way cooler kids, the millenials.
In short, our civil service and established businesses need to get a bit smart because although this scamming stupidity does deserve a big slap, it is also a sign that very valuable human resources are not being tapped into and are not being utilized at a time when we very much need them to advance our civilization so that we can support life on Venus and Mars.