Illegal Websites Fool Users with Deceptive Facebook Ads Showcasing Celebrity Testimonies / Digital Information World

A cybersecurity firm, Group-IB, is bringing to light a celebrity endorsement-based fake funding scheme to deceive the public by forcing them to invest and receive a good amount in return. The team identified the scam across Europe and scammed people in 9 countries including the Czech Republic, UK, Germany and the Netherlands.

The scammers try to convince the victims to add money to the deceptive portal and in return they assure them that they will get a huge amount from their investment. They present celebrity stories with compelling statements, such as how I got rich. These stories play an essential role in convincing the public to invest their hard-earned money in bogus websites. The cyber company team pretended to be a victim and gained the scammers’ trust. They learned about the deceptive methods that scammers use to attack people. They use deceptive Facebook pages and posts on trusted places like YouTube. When victims see legitimate websites where these types of ads appear, they take it as concrete evidence that a significant amount is generated. For ads, they use statements by Elon Musk or other European public figures to gain people’s trust.

For the initial investment, con artists require a minimum deposit of two hundred and fifty euros. They call it a special offer to show they make it fast for regular people too. Once the victim deposits the amount on the scam broker website, they will find fake news from the public who have successfully received cashback. They show a random profile of a person who withdrew the euros in an investment on the broker’s website. According to the Group IB undercover team, scammers also make phone calls as company executives to demand the minimum amount or even more persuasion. Group-IB representatives detailed how scammers use engaging conversations with the public and always give a good answer to reassure people about their investment policies.

In addition, scammers call the person who wants to invest and provide a specific link to the final scam project. The victim must replenish the account balance. The scam manager guides the victim in their investment strategy. Besides, scammers also change the number of euros in the portal to please the victim. At some point the victim agrees to transfer money, their money is lost and they pretend to be rich. When victims try to withdraw funds, fake managers ask them to invest more to reach a threshold. Once the withdrawal threshold is reached, the amount can be withdrawn. But in reality there is no such thing, and there is no way to get out of it.

Finally, Group-IB added scammers to use keywords to trick the public into their scams. The keywords can be crypto, such as e.g. Bitcoin. So, it is recommended to always authenticate domains and websites while transferring your money to the websites and never click on ads as most scams spread through ads. So, it is better to do your research and act accordingly.

Read Next: Twitter Accounts Fall Victims of Hijackers With 3200 Apps Leaking Twitter Keys

Leave a Comment