A Cryptocurrency Scam That Can’t Be Impulsive – Snowball
Many years ago, a Nigerian prince promised us riches beyond our wildest dreams if we only sent him some of our money. Nowadays, we’re promised fame and fortune by investing in a cryptocurrency. But as the saying goes, if it sounds too good to be true, it probably is. This article covers a previously undetected cryptocurrency scam that has ensnared hundreds of innocent people worldwide.
Over 1,000 Bogus Websites
Since January 2021, over 1,000 fraudulent websites have been used in a scam to trick users into participating in a fake rewards scheme. Trend Micro researchers state that this campaign is likely to have resulted in thousands of people being scammed worldwide.
Linked to Russian-Speaking Group
The scam has been linked to a Russian-speaking threat actor named “Impulse.” This group has set up the fake websites to impersonate legitimate crypto and trading sites to gain users’ trust.
How the Scam Works
The scam works by prompting users to sign up for a rewards program where participants earn points for performing certain tasks such as watching videos, clicking links, and referring friends. These points can then be exchanged for cryptocurrency. However, when users try to exchange their points, they are asked to verify their identity by submitting personal information such as their name and contact details. The scammer can then use this information for identity theft, committing fraud, or selling it to other cybercriminals.
It’s important to remember that if something seems too good to be true, it probably is. Always be wary of rewards programs that require you to submit personal information, especially when it involves cryptocurrency. Make sure to conduct thorough research and verify that the website is legitimate before providing any personal information.Original Article: https://thehackernews.com/2023/06/beware-1000-fake-cryptocurrency-sites.html