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A report published by Group-IB, a Singaporean cybersecurity firm, found that the number of cryptocurrency scams using fake domains exploded in the first half of 2022. The number of these domains has tripled and most of these campaigns are registered with Russian registrars and are designed to reach English and Spanish speaking crypto investors.
The number of domains used to carry out cryptocurrency fraud doubled in the first half of 2022. A number of these domains are used as welcome pages, according to a report published by Group-IB, an online security company based in Singapore. In the case of Youtube scam streams, there has been a 5x increase in the first half of this year. Over 2,000 of these domains have been registered.
Most of these cryptocurrency scam sites use the names of well-known cryptocurrency-related figures to attract victims. Among them are the President of El Salvador, Naive Bukelefamous soccer player Cristiano Ronaldo and other famous cryptocurrency supporters Michael Thaler When Elon Musk.
More than 60% of these domains are registered through Russian companies, but are aimed at their primary target, the Spanish- and English-speaking community of cryptocurrency investors.
The growth of this type of scam is due to the existence of an underground market dedicated to selling all the software needed to establish fake encrypted streams hosted by YouTube and the high profile these streams receive. made possible by Most of these can reach an average of 10,000 to 20,000 viewers, attracted by keywords such as: ethereumArk, Shiva, XRP Above all. Regarding this, Group-IB said:
Scammers have at their disposal exchange platforms for hacked Youtube accounts, audience boosting services, manuals, website editors, admin panel developers, domain names, bulletproof hosting, and tools and people that can create deepfake videos. increase.
Deepfakes have become an effective tool for hackers. create Live holograms of exchange employees to trick token team representatives into collecting fees for potential listing opportunities.
There are also services to create these web pages and art to attract people to invest in these scams. The company encourages users to be wary of over-the-top cryptocurrency giveaways and always check that the sources promoting these are official.
What are your thoughts on the recent surge in domains facilitating cryptocurrency fraud? Let us know in the comments section below.
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