Crypto scammers launch fake Forbes article advert of Facebook against European citizens

An organization from North Macedonia dubbed Metamorphosis, issued a statement today warning that crypto scammers are increasing their effort to solicit funds from unsuspecting European residents. The organization reportedly supports digital rights and media literacy.

Metamorphosis warn against fake crypto Forbes articles

Per the report, crypto scammers are now flooding European Facebook users with fake adverts to lure them into investing in their digital currency. They present fake articles masked with Forbes.com links to click-bait the unsuspecting Facebook users across different countries in Europe

Besides, the information presented on the Forbes.com-masked articles is false. The main objective for disinformation on cryptocurrency trends with influential countries like China, and other EU members, such as Sweden, while also introducing their digital currencies to them.

The Ministry of Interior Affairs of North Macedonia explained that the crypto scammers use fake Forbes.com articles to distribute links to there website across emails and social media platforms, including Facebook. The articles are mostly used to promote new Chinese digital currency. 

Crypto scammers promote cryptos in Forbes-masked article

Upon clicking the links, the citizens share there personal data with the crypto scammers, through which they would persuade them to invest in their new cryptocurrency in installments, starting at $250. According to the Ministry, the amount would later be raised via several manipulation techniques.

The Macedonian anti-cybercrime unit said the website redirected to European citizens was hosted in Ukraine. Allegedly, the crypto scammers are Russian citizens, and they operate similarly to the OneCoin Ponzi scheme

While emphasizing on the geographic reach of the fraudulent adverts, one of the executives at Metamorphosis, Bardhyl Jashari said:

Misleading advertisements continue to target social network users across the world. Using the public data provided by Facebook about the ads targeting the audience based in North Macedonia as starting point, Metamorphosis team revealed that the same ads are served in almost all European countries, as well as countries in the Middle East.

About the author