Ingenious Scheme Unveiled: Crafty Fake Cryptocurrency Websites Ensnare Over 1,000 Users with Illusory Rewards
An elaborate cryptocurrency scam, which remained unnoticed until recently, has exploited a network of more than 1,000 fraudulent websites to ensnare unsuspecting victims in a deceptive rewards scheme since January 2021.
According to a recent report by Trend Micro researchers, this extensive operation has likely defrauded thousands of individuals worldwide. The scam has been attributed to a Russian-speaking threat actor known as "Impulse Team."
The fraudulent scheme operates through an advanced fee fraud tactic, wherein victims are led to believe they have won a specific amount of cryptocurrency. However, to claim their rewards, victims are required to make a small payment to open an account on the fraudulent website.
The chain of compromise commences with targeted individuals receiving direct messages on Twitter, inviting them to visit the decoy site. The responsible Twitter account has since been closed.
The message persuades recipients to create an account on the website and utilize a provided promo code to redeem a cryptocurrency reward equivalent to 0.78632 bitcoin (approximately $20,300).
Upon setting up an account on the fake platform, users are then prompted to activate their account by making a nominal deposit of 0.01 bitcoin (around $258) to verify their identity and facilitate the withdrawal process.
Source: https://thehackernews.com/2023/06/beware-1000-fake-cryptocurrency-sites.html