Cybersecurity researchers recently uncovered international fraud syndicates that not only impersonate the websites of renowned international news outlets such as CNN, BBC, and CNBC, but also use these fake websites to combine "social engineering" and "technical deception" to design large-scale investment scams. In terms of methods, the fraud syndicates first publish ads on Google and Facebook platforms, using photos of local names to create realistic news reports and headlines, enticing users to click on links to learn about "passive income," leading users to mistakenly believe it is legitimate financial news from reputable media.
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Thousands of fake websites are used to deceive investors by offering cheap domain names.
Analysts at cybersecurity firm Malwarebytes discovered that fraud groups are using these fake domains as cover, setting up nearly 17,000 phishing websites across 50 countries worldwide, with the United States being a primary target. Further investigation revealed that these groups also maintain sophisticated fake trading platforms with names like Eclipse Earn and Solara Vynex, appearing as legitimate investment companies to mislead you into believing it's a reliable investment channel.
The core technology of this scam heavily utilizes typosquatting, which involves spelling out URLs to resemble legitimate media websites and then combining them with low-cost top-level domains (TLDs) such as .xyz, .io, .shop, and .click. The scam group also incorporates familiar brand logos and navigation interfaces, along with a content management system, to automatically generate "fake news" articles featuring local celebrities and promoting investment opportunities in specific regions. This creates a personalized attack path, increasing the likelihood of victims falling for the scam.
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