Reddit Ads Impersonate BBC and The Guardian to Push Fake AI Investment Schemes
A "growing wave" of Reddit's "promoted posts" are sending U.S. and European audiences to money-stealing scams that impersonate major news organizations including the BBC, the Financial Times, and The Guardian, according to new findings from Bitdefender Labs.
"Domains are short-lived and rapidly rotated to evade detection," they write, noting that the impersonating sites apparently even use language "to falsely imply that the investment platform had been reviewed, approved, or vetted" by the legitimate site they're impersonating:
The campaign promotes fake AI-powered investment platforms such as Wencoin STX, Warrior Coin AI, and Nevo Coin, using fabricated celebrity endorsements, cloned news websites, fake interviews, and invented financial success stories to lure victims into depositing money. Researchers Andrea Olariu and Emanuel Puscasu have identified multiple promoted Reddit posts masquerading as legitimate financial or breaking news stories.
Some ads claimed that:
— NVIDIA and OpenAI were "creating the future"
— Heathrow police discovered hundreds of thousands of pounds in cash
— Governments and banks were allegedly trying to "hide" a revolutionary AI investment platform
— European regulators were "silencing" articles about AI trading systems
Some Reddit ads delivered in video format, including what appeared to be a deepfake BBC news segment featuring a news anchor presenting fabricated financial headlines... Examples observed by researchers included:
— Fake BBC pages discussing "$20 billion conversations" tied to AI investments
— Fraudulent Financial Times articles about Heathrow airport cash seizures
— Fake Guardian stories claiming governments were trying to suppress coverage of Wencoin STX or Nevo Coin
The pages featured fabricated interviews, fake profit screenshots, manipulated banking documents, false testimonials, and even fictional journalists or business editors designed to make the scam look legitimate. In many cases, the content sought to create a sense of exclusivity or conspiracy, suggesting that banks, regulators, or governments were trying to suppress public access to the investment platform...
Our researchers found that after users clicked links embedded within the fake Guardian articles, they were redirected to a registration form allegedly used to create a "Nevo Coin" investment account. The form requested personal contact information, including the victim's name, email address, and phone number. To increase pressure and encourage immediate action, the page warned that registration availability was limited, claiming that once all spots were filled, new user registrations would be suspended.
And in the final stage, they're asked to deposit money...
"Domains are short-lived and rapidly rotated to evade detection," they write, noting that the impersonating sites apparently even use language "to falsely imply that the investment platform had been reviewed, approved, or vetted" by the legitimate site they're impersonating:
The campaign promotes fake AI-powered investment platforms such as Wencoin STX, Warrior Coin AI, and Nevo Coin, using fabricated celebrity endorsements, cloned news websites, fake interviews, and invented financial success stories to lure victims into depositing money. Researchers Andrea Olariu and Emanuel Puscasu have identified multiple promoted Reddit posts masquerading as legitimate financial or breaking news stories.
Some ads claimed that:
— NVIDIA and OpenAI were "creating the future"
— Heathrow police discovered hundreds of thousands of pounds in cash
— Governments and banks were allegedly trying to "hide" a revolutionary AI investment platform
— European regulators were "silencing" articles about AI trading systems
Some Reddit ads delivered in video format, including what appeared to be a deepfake BBC news segment featuring a news anchor presenting fabricated financial headlines... Examples observed by researchers included:
— Fake BBC pages discussing "$20 billion conversations" tied to AI investments
— Fraudulent Financial Times articles about Heathrow airport cash seizures
— Fake Guardian stories claiming governments were trying to suppress coverage of Wencoin STX or Nevo Coin
The pages featured fabricated interviews, fake profit screenshots, manipulated banking documents, false testimonials, and even fictional journalists or business editors designed to make the scam look legitimate. In many cases, the content sought to create a sense of exclusivity or conspiracy, suggesting that banks, regulators, or governments were trying to suppress public access to the investment platform...
Our researchers found that after users clicked links embedded within the fake Guardian articles, they were redirected to a registration form allegedly used to create a "Nevo Coin" investment account. The form requested personal contact information, including the victim's name, email address, and phone number. To increase pressure and encourage immediate action, the page warned that registration availability was limited, claiming that once all spots were filled, new user registrations would be suspended.
And in the final stage, they're asked to deposit money...
Read more of this story at Slashdot.
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