Fake TradingView YouTube Channels Drain Crypto Wallets – Best Wallet Emerges as Most Secure Option, ICO Hits $12M

Leading noncustodial Web3 wallet Best Wallet ($BEST) has officially crossed the $12 million mark in ICO funding.

The milestone comes amid increasing wallet-targeted scams and a broader shift among crypto users toward self-custody and real utility, as the market matures and centralized risks grow harder to ignore.

Recent reports of fake TradingView YouTube channels draining user wallets highlight how sophisticated these threats have become – and why secure, self-custodial tools like Best Wallet are more critical than ever.

Best Wallet offers a strong line of defense. Its self-custodial architecture keeps private keys in the hands of users, and its security-focused design helps protect against phishing, malware, and drainer exploits that continue to spread across the crypto landscape.

But security is only part of the appeal. Best Wallet also empowers users with a full suite of tools built for today’s market – from cross-chain swaps and fiat on-ramps to staking opportunities and an in-app screener for new projects.

Crossing the $12 million mark is more than just a funding milestone – it signals growing investor confidence in a trustworthy, well-equipped, and rapidly evolving platform that only launched last year.

The current presale round prices $BEST at $0.024985, with just 38 hours left before the next scheduled price increase – could this be one of the final rounds before the presale concludes?

Fake TradingView YouTube channels are using deepfakes and hijacked verified accounts to lure in victims

TradingView, arguably the most popular trading software in the crypto space, has become the latest target of a growing phishing scam involving fake YouTube channels impersonating the platform.

The scam is a classic phishing attack with a sophisticated twist.

These impersonator channels upload videos or host livestreams, directing viewers to download what’s claimed to be a “developer version” or “cracked version” of the TradingView application.

In reality, the download link leads to a malicious script, often a Windows PowerShell command, which installs a Remote Access Trojan (RAT) on the victim’s device once executed.

The RAT grants attackers full unauthorized access, allowing them to steal sensitive data, including crypto wallet credentials, and ultimately drain user funds.

What makes the scam particularly deceptive is the use of deepfake personalities or paid actors to pitch the fake software, combined with the fact that these aren’t just random new channels.

Many of them are hijacked YouTube channels with verified badges and large subscriber bases, making them appear completely legitimate to unsuspecting users.

Multiple victims have already reported losing access to their wallets and crypto holdings due to the scam.

At its core, this incident is yet another reminder of the need for users to stay vigilant, verify official sources, and avoid downloading software from unverified links.

But beyond user awareness, there’s also a growing need for wallets with built-in security architecture that can safeguard assets even in the face of evolving threats.

And in today’s market, no wallet strikes a better balance between security and advanced features than Best Wallet – a platform designed not just for storage, but for optimizing every corner of a crypto portfolio.

Best Wallet’s security features

Best Wallet is built with security at its core – not just for peace of mind, but for real protection in a market full of risks. It’s fully self-custodial, meaning users control their assets directly with no middlemen, no KYC hurdles, and no email-based attack vectors.

Best Wallet also integrates Fireblocks’ MPC-CMP technology, an advanced security method that splits private keys into multiple encrypted parts across separate parties, eliminating any single point of failure. This ensures that no single entity—not even Fireblocks—holds the complete key alone.

To guard against phishing contracts and malicious assets, Best Wallet features built-in scam filters that automatically detect and hide suspicious or spam tokens – a function highlighted in multiple industry reviews.

Even fiat on-ramps are secured through trusted providers like MoonPay and Alchemy Pay, avoiding shady third-party redirects.

On mobile, Best Wallet delivers modern protection with biometric login and optional two-factor authentication.

Americans reportedly lost over $9.3 billion in crypto scams in 2024

As crypto adoption accelerates, so do the attempts to exploit newcomers. The industry has seen a sharp rise in fraudulent activity, with scammers deploying more advanced and deceptive tactics to target users.

In 2024 alone, Americans reported over $9.3 billion in losses to crypto-related scams – a staggering 66% increase from the previous year.

Phishing attacks were the most prevalent, echoing the method used in the fake TradingView YouTube channel scam. These alone accounted for over $1 billion in losses across nearly 300 reported incidents.

Rug pulls have also become widespread, driven by the meme coin craze – a trend even some political figures have opportunistically tapped into.

Meanwhile, fake wallet apps continue to circulate across app stores, mimicking trusted platforms and tricking users into surrendering their keys and funds.

These aren’t just minor inconveniences – they’re a direct threat to user confidence and broader adoption.

That’s why having a secure, self-custodial wallet like Best Wallet is critical. With protection built for today’s threats and a reputation for delivering on both safety and utility, Best Wallet gives users the confidence to trade, store, and explore the crypto space without second-guessing every click.

Best Wallet’s transactional capabilities

But beyond security, Best Wallet also delivers transactional capabilities that leave many incumbents behind.

Its integration with over 300 decentralized protocols and more than 30 cross-chain bridges ensures users always get the best rates for their trades, all within a single app.

Using $BEST tokens unlocks further efficiency, reducing transaction fees and minimizing friction during on-chain activity.

On its roadmap, Best Wallet also plans to introduce gasless transactions and MEV protection – a hybrid feature that intersects both security and execution.

By shielding users from front-running and sandwich attacks, MEV protection ensures transactions are not only secure but also fair, preventing stealthy value extraction by bots and validators.

Best Wallet’s rising popularity is also driven by its standout feature: the Upcoming Tokens screener – a discovery tool that scans the market, analyzes potential, and highlights new projects with strong upside.

It doesn’t just list tokens – it recommends optimal entry points to maximize returns when promising assets take off.

The screener already has a track record, having surfaced tokens like Pepe Unchained ($PEPU) and Catslap ($SLAP) early – both of which went on to deliver massive returns of 700% and 7,000%, respectively.

The $13 million milestone is on deck – secure your $BEST now and claim your spot

With the $12 million milestone already in the books, all eyes are now on $13 million – a target well within reach. To join the presale and secure your share of $BEST tokens, head to the Best Wallet presale website, connect your wallet, and use the intuitive on-site widget.

Best Wallet users can also purchase directly within the app using a bank card or by swapping crypto like ETH or USDT.

For users managing assets across different wallets, Best Wallet simplifies consolidation with seamless import features.

The app also supports multichain functionality, recently expanding beyond Ethereum to support Bitcoin, with Solana integration on the horizon.

$BEST tokens can be staked via the Best Wallet staking protocol, earning a 124% APY, which adjusts dynamically based on pool size.

New users can download Best Wallet now on Google Play or the App Store.

Stay connected with the community on X, Telegram, and Discord.

The post Fake TradingView YouTube Channels Drain Crypto Wallets – Best Wallet Emerges as Most Secure Option, ICO Hits $12M appeared first on Cryptonews.