Yet another Facebook scam targets aspiring crypto millionaires

Yet another Facebook scam targets aspiring crypto millionaires

Just when you think we’ve had enough of them, crypto-related scams on social media platforms just keep popping up. This time, the fraudsters are banking the popularity of football, using one of the game’s most recognizable personalities. Unlike previous scams, the latest is unobtrusive and could convince even the most skeptic people to give it a try.

As revealed by cybersecurity outlet Naked Security, the fraudsters are using Facebook to target aspiring crypto millionaires. The criminals are relying on sponsored ads to spread their message, using the face of a football icon: Sir Alex Ferguson. Ferguson is most renowned for his 26-year-old reign as the manager of Manchester United.

Once you click on the ad which promises to reveal Ferguson’s secrets to success, you’re redirected to a fake BBC web page with the title, ‘Panorama Investigates: Who Wants to be a Bitcoin Millionaire.’ Panorama is a popular BBC TV program and ironically, it did air an investigative piece with the same exact title a year ago. However, Ferguson wasn’t featured in that documentary.

Source: Naked Security

Ferguson’s image is doctored, with the background containing BTC branding. The article claims that he has invested in a BTC program that guarantees profits, a secret ‘he has been waiting to share with his fans.’

The article then has a link for those who wish to join the revolution. The link redirects you to a page that promises guaranteed returns for just a $193 initial investment. This is allegedly the same program that Ferguson used to rake in millions from crypto investing.

This isn’t the first such scam we’ve seen, and on any other day, it would be easy to spot and avoid. However, this time, the scammers have managed to make it look legitimate in more ways than one. First, they’ve used a global icon in Ferguson. They’ve also managed to make a legit-looking BBC webpage and most of all, they have made the ad to look quite professional, with no spelling errors which are common with scams or obtrusive ads that seek to pressure you to making a quick decision.

Naked Security reminds you to beware of investment schemes, even when they display legitimate logos and branding, as this too can be forged. You must also be very suspicious of any plan that assures you of guaranteed returns, especially in crypto where volatility and unpredictability are hallmarks of the industry.

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