A new TikTok scam, uncovered by Trend Micro, preys on users’ desire for free software by enticing them with fake promotional videos disguised as legitimate offers. The malware infects devices, putting millions of cryptocurrency investors and their personal data at risk. 
This scam highlights the growing threat of sophisticated social media-based attacks targeting digital assets.
Trend Micro researchers found that these deceptive videos, which boast millions of views on TikTok, actually install malware through Windows PowerShell. The attack leverages TikTok’s platform to distribute malicious code hidden within seemingly harmless content. 
This type of scam presents a significant challenge for cryptocurrency security. Experts are urging users to remain vigilant as traditional detection methods may not be effective against such advanced threats. The financial consequences of this malware could be substantial, with potential losses estimated at millions. 
The attack also raises concerns about the need for improved cybersecurity measures in the face of ever-evolving digital scams. 
Past instances of similar social media scams have been observed by Action Fraud, who previously issued warnings against these tactics. These attacks, however, continue to evolve and adapt, evading traditional security measures, demonstrating the critical need for innovative strategies to combat them.