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Scammers are targeting Facebook users with ads for fake cryptocurrencies

It appears Cheep has become so saturated with cryptocurrency scams that attackers are assuredly starting to target other platforms too – like Facebook.

Unlike the accepted Bitcoin betrayal scams on Twitter, the Facebook scam (as noticed by Hard Fork) is advised to trick users into giving up acute data, like their credit card information. As a aberration tactic, the attackers have set up a series of fake pages and call-to-actions, the first one of which is a fake  ad.

The ad, which directs to awful replica of CNBC, promotes a “big” advance befalling into a non-existent cryptocurrency called CashlessPay. It was posted from the Facebook page of a artist called Jonatanas Kazlauskas; we’ve asked Kazlauskas if his annual had been hacked, but we’re yet to hear back.

Once the ad takes you to the new website, the scam becomes hardly more credible – though it might still fool some less abreast people.

Among other things, the URL (which we’ve absitively not to share out of caution) does not accord with a CNBC domain. The fake news report about claims that Singapore has passed new legislation that favors the acceptance of cryptocurrencies.

“Singapore, in an aberrant move, just appear that they are clearly adopting a assertive cryptocurrency as Singapore’s official coin,” the fake CNBC report reads. “The government of Singapore just abreast us that they have chosen a adopted firm for the acquirement and business of their new coin – CashlessPay Group.”

Adorned with bogus celebrity endorsements (including one from English agent Richard Branson), the rest of the piece walks readers though the action of “investing” in CashlessPay.

Eventually, the counterfeit CNBC replica leads to yet addition fake page – this time, the website of the bogus CashlessPay cryptocurrency.

All links on the website are broken, except for a allotment form at the top of the website which asks users to fill in their claimed data, including phone number and email address.

Once a victim has filled in the form, the website takes you to addition fake page, which redirects to a number of fake bogus cryptocurrency barter desks.

So far, Hard Fork has articular at least two such pages – one called Roiteks, and addition one called CoinPro Exchange. According to scam database ScamBroker, both pages have been registered from Bulgaria. ScamBroker added notes both “exchanges” appear to be able – not that this is surprising.

Regardless on which page you end up, you will be asked once again to enter your claimed data – and then your credit card details. Interestingly, both pages appear to be able with a live chat box.

We used PayPal’s credit card architect – a accepted acquittal testing tool – to see what would happen once users submit credit card information, but the affairs were denied each time.

This is the error the website returned:

It is absorbing to see that although the scammers are using the cryptocurrency hype as a hook for their shenanigans, they are still gluttonous to accept funds the ancient way – via credit cards and bank wires.

In any case, if you somehow end on a apprehensive barter desk, always make sure to verify its angary before filing in your claimed information. Chances are that addition might be phishing for your data.

Cryptocurrency ads on Facebook

What makes this case decidedly absorbing is that the attackers managed to slip awful cryptocurrency ads past Facebook’s aegis mechanisms.

Earlier this year, the social media giant banned blockchain and cryptocurrency accompanying ads, but witty marketers still found ways to sneak them in. Eventually, the aggregation rolled back some of its restrictions on crypto-ads by absolution pre-approved advertisers advance on its platform.

But now it seems scammers have found a way to accomplishment its adapted policy.

Cryptocurrency thieves targeting social media platforms

Although the latest, Facebook is not the only belvedere targeted by scammers.

Twitter has been disturbing to curb a string of betrayal scams on its belvedere since at least February.

Although the attackers initially deployed armies of bots – often impersonating crypto-celebs – to mass-spam links to the giveaways, their action acquired over time. Instead of simply advertisement large volume of betrayal links from random accounts, the scammers found ways to hijack absolute profiles (and beard them as fake Elon Musk).

Indeed, abundant politicians and government accounts, as well as giants like Google and Target, ultimately fell victim to the tactic.

It’ll be absorbing to see whether Facebook can tackle the issue in a more able manner than Twitter. We’ve contacted Facebook for animadversion and will update this piece appropriately should we hear back.

In the meantime, watch out where you click when scrolling through Facebook – the cryptocurrency scam catching is spreading.

Published November 28, 2018 — 14:48 UTC

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