Cybersecurity firm CTM360 has uncovered a widespread online investment fraud campaign leveraging fake news websites, termed Baiting News Sites, to deceive users in more than 50 countries, The Hacker News reports.
These sites mimic trusted media outlets like CNN or BBC and use paid ads on platforms such as Google and Meta to lure users with sensational headlines. Once clicked, users are redirected to fraudulent trading platforms like Trap10 or Solara Vynex. The scam operates in two phases: the first draws users in, while the second involves direct engagement from fake advisors, data collection, and simulated profit dashboards to prolong the deception. Victims are persuaded to deposit small amounts, often around $240, and then pushed to invest more. CTM360's Webhunt has identified over 17,000 such domains, many hosted on cheap or compromised infrastructure. These scams not only steal funds but harvest personal data for identity theft and phishing, posing a hybrid threat that blends investment fraud, impersonation, and data exploitation.
These sites mimic trusted media outlets like CNN or BBC and use paid ads on platforms such as Google and Meta to lure users with sensational headlines. Once clicked, users are redirected to fraudulent trading platforms like Trap10 or Solara Vynex. The scam operates in two phases: the first draws users in, while the second involves direct engagement from fake advisors, data collection, and simulated profit dashboards to prolong the deception. Victims are persuaded to deposit small amounts, often around $240, and then pushed to invest more. CTM360's Webhunt has identified over 17,000 such domains, many hosted on cheap or compromised infrastructure. These scams not only steal funds but harvest personal data for identity theft and phishing, posing a hybrid threat that blends investment fraud, impersonation, and data exploitation.
