Facebook Fraud: Scammers Use Fake Article to Promote Russian Crypto Scheme

Facebook scammers have used a fake Voice of America (VOA) article to push a dubious Russian cryptocurrency scheme. This fraudulent activity has raised concerns about the increasing sophistication of online scams and the exploitation of legitimate media outlets for malicious purposes.

Scammers Target Facebook Users with Fake VOA Article

When American conservative commentator Tucker Carlson interviewed Russian IT entrepreneur Pavel Durov in April 2024, scammers saw an opportunity. They created a phony Russian-language transcript of the interview to attract “investors” to a cryptocurrency scheme promising monthly earnings of $13,000. The scheme came to VOA’s attention when its creators used a copy of a VOA Russian article page to defraud internet users.

The Strategy Behind the Scam

These scams often buy advertising using hacked Facebook accounts, spanning countries like the Philippines, Mexico, and Afghanistan. Jordan Liles from Snopes.complained, “There are so many scams online that pose as legitimate publishers. Name any publisher – they’ve probably been used in scams to try to fool people who don’t look at their web address bar”. There is no indication that Durov or Carlson is involved in the scheme.

Facebook’s Response to the Fraud

In a statement, Facebook’s parent company Meta emphasized its commitment to combating scams. “Fraud is a problem that’s always persisted with new technology,” the company wrote. “But that’s exactly why Meta always has — and always will — take a hard line against scams, fraud, and abuse in all of its forms to help keep it off of our platforms”.

The Low-Tech Approach of the Durov Scam

Unlike previous scams that used deepfakes, the Durov scam takes a low-tech approach by using a Q&A-style text transcript in Russian that falsely claims to be a continuation of Carlson’s interview. The fake story claims that Durov told Carlson about his latest creation, ProTON-Invest, an open program that promises large sums of money with minimal effort.

The Global Reach of the Scam

VOA attempted to trace the origins of the ProTON-Invest scheme and its promotional content, but the fraudsters had covered their tracks well. The stolen Facebook accounts used to promote the scam often had managers supposedly located in multiple countries, including Vietnam, Bangladesh, Ukraine, China, and the U.S. However, it’s unclear how Facebook determines the location of these managers, reported VOA.

The Challenges of Fighting Back

Recovering hacked accounts is extremely difficult, as hackers often change the password, recovery email, and phone number. Journalist Yuri, who had his Facebook account hacked by cryptocurrency scammers, shared his experience: “If the lawyer hadn’t helped me, I would have spent a long time writing to Meta”. The scams are also relatively inexpensive to create, making them a lucrative venture for fraudsters.

Using a fake VOA article to promote a Russian cryptocurrency scheme highlights the evolving tactics of online scammers.