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Spying on the Scammers [Part 1/4]

CIS scammers have created a profitable ...

CIS scammers create profitable Bitcoin business – the Guardian
CONTENT

  • A group of scammers from the CIS organized a scheme for fake investments in bitcoin

  • One of the victims lost about $ 80 thousand due to a fraudulent scheme

  • Google promised to investigate persons who create fraudulent services

International consortium of news organizations developing transparency standards.

The Guardian found out that people from Moscow and Ukraine were behind a fraudulent scheme around advertising bitcoin through Australian celebrities

CIS scammers have created a profitable ...

Moscow scammers are likely behind a high-level Bitcoin advertising scheme with the help of Australian celebrities. The British newspaper The Guardian came to this conclusion following its own investigation..

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Attackers illegally used images of Dick Smith (a major Australian businessman), Andrew Forrest (an Australian businessman) and other celebrities. According to preliminary information, tens of thousands of Australians have become victims of the bitcoin scheme.

The Guardian notes that the scale of the fraud made it difficult for Google to block sites, and for Australian regulators to take action.

Under the cover of a pandemic

The Guardian found out that the Bitcoin celebrity advertising scheme has been featured on news sites since at least 2018..

“Due to the fact that people are forced to sit during the Covid-19 pandemic, scammers have deceived many more people,” the newspaper said..

CIS scammers have created a profitable ...

Basically, the fraudulent scheme looked like this: the victim clicked on a Bitcoin ad featuring a famous person. After that, she was redirected to fake news with a link to a service that supposedly helps to invest in cryptocurrency. If the victim enters his data to buy cryptocurrency, they call her back with a request to invest a small amount (up to $ 250), and then more and more large amounts.

Read also: Fraudsters again pump out military-technical cooperation, hiding behind Elon Musk

One of the victims gave the cybercriminals $ 80,000 before realizing it was a scam. Despite the fact that she turned to the bank and law enforcement agencies, she was never able to return the money..

Gray area

A journalist from The Guardian found out that most of the fraudulent sites operate in Saint Vincent and the Grenadines, a state in the southern Caribbean. This is a non-regulated trading area.

The data collected by the fraudsters was later passed on to brokers offering other risky or illegal investments, the Guardian noted..

Site owners often use the services of third parties to hide information about themselves. However, Teh Guardian claims that they were able to identify at least five people who registered hundreds of sites with addresses in the center of Moscow. A Google spokesman said that information about these people will be shared with security for investigation..

The Guardian also found out that a high-level scheme may have connections with residents from Ukraine. Australian cybersecurity expert Gabor Szatmari noted that the registration form on fraudulent sites does not allow submitting applications with Ukrainian phone numbers. Who exactly is behind the fraudulent scheme and how The Guardian reached the site owners remains unknown..

Meanwhile, Kaspersky Lab analysts predict an even greater scale of cryptocurrency fraud due to the economic impact of the coronavirus pandemic. According to experts, countries under economic sanctions will rely more on ransomware that mimics the work of cybercriminals.

CIS scammers have created a profitable ...

They can reuse existing code or create their own scam campaigns from scratch, according to Kaspersky Lab..

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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