These malicious platforms masquerade as legitimate news outlets, publishing fabricated stories featuring well-known public figures and respected financial institutions to build trust and lure unsuspecting victims into high-risk financial scams including Trap10, cryptocurrency trading fraud, and other deceptive investment schemes. These advertisements redirect users to professionally crafted fake news articles that impersonate trusted media outlets like CNN, BBC, and CNBC, featuring fabricated quotes from celebrities and financial authorities endorsing fraudulent trading platforms. These platforms employ sophisticated user interface designs that mimic legitimate financial services, complete with fake profit dashboards displaying fabricated returns to convince users to make initial deposits averaging $240, though no actual trading occurs and funds are directly transferred to scammer-controlled accounts. More concerning is the practice of compromising legitimate domains to host fake news pages, creating a hybrid infrastructure that blends malicious content with trusted domain reputations. A massive network of fraudulent news websites has been uncovered, with cybersecurity researchers identifying over 17,000 Baiting News Sites (BNS) across 50 countries orchestrating sophisticated investment fraud schemes. The majority of identified Baiting News Sites utilize free or low-cost top-level domains including .xyz, .shop, and .click extensions, which provide scammers with cost-effective registration options while complicating detection efforts.
This Cyber News was published on cybersecuritynews.com. Publication date: Wed, 16 Jul 2025 04:05:13 +0000