Investigating Scam Crypto Investment Platforms Using Pyramid Schemes to Defraud Victims

SUMMARY :

A campaign distributing thousands of fraudulent cryptocurrency investment platforms via websites and mobile applications has been uncovered. The operation impersonates well-known brands and organizations, luring victims with unrealistic promises of high returns. The consistent design of the platforms suggests the use of a standardized toolkit for large-scale development. Domains are primarily registered in Singapore using lenient registrars and fake names. The scam targets users in East African and Asian countries, utilizing Telegram channels for engagement. The platforms operate like Ponzi schemes, encouraging user recruitment through multi-level affiliate programs. Evidence points to a single threat actor behind the campaign, given the consistent registration patterns and infrastructure use.

OPENCTI LABELS :

telegram,cryptocurrency,impersonation,mobile applications,investment scam,pyramid scheme


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Investigating Scam Crypto Investment Platforms Using Pyramid Schemes to Defraud Victims