Hackers Scam Facebook Users with Fake Bitcoin Platform

Cybercriminals tricked Facebook users into providing login credentials for their personal accounts via a tool pretending to disclose who had been seeing their profiles.

Security researchers have discovered a credit and debit card fraud operation that targeted hundreds of thousands of Facebook users.

According to cybersecurity company vpnMentor, the scam was discovered after researchers found an unsecured database comprising 13.5 million documents, totaling over 5.5GB of information, used by fraudsters to keep the private information of sufferers.

While the information came from a brief interval, between June and September 2020, researchers believe the scam was likely much more extensive and was operating for much longer.

Cybercriminals tricked Facebook users into providing login credentials for their personal accounts via a tool pretending to disclose who had been seeing their profiles.

Then they used the stolen login credentials to discuss spam comments on Facebook articles, directing people to their own network of sites that caused a fake Bitcoin trading platform used to scam people from deposits of at least $250.

They have been posting links directly to sites in the Bitcoin scheme, alongside many bogus news sites and similar spam articles to bypass and confuse Facebook’s fraud and bot detection tools.

However, the fake news sites made by the fraudsters eventually led visitors to their Bitcoin sites. Sometimes, cybercriminals would also share links to legitimate news sites such as the Washington Post for the identical purpose.

VpnMentor claims that the operation was wide-ranging and spanned the whole globe.

Researchers discovered that the database on September 21 and contacted Facebook to notify the fraud business on its own platform. While they were investigating further, the database has been attacked and all of the information wiped out. The database went offline the exact same day and was no longer reachable, the cybersecurity company stated.

“We think the fraudsters did so after the Meow assault, but can not confirm,” vpnMentor stated in a report.

The group found hundreds of website domains in multiple foreign languages to lure users from other nationalities to the bitcoin scam.

Researchers advised Facebook users that believe they’ve been victims of the fraud to change their login credentials instantly.

Furthermore, they can alter the reused Facebook password on any other accounts to protect them from hacking. They also asked users never to supply usernames and passwords for Facebook, email, or financial accounts to outside sites.

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