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You can already know that Facebook’s greatest strength is not social media platform, but user data collects it.
The data that we hand over twice without thinking is what it uses to generate revenue-dollar company. It sells the data to advertisers who then try to earn money by showing advertisements in the hope that you will buy their products. I believe, sometimes advertising platforms can be beneficial by connecting small businesses to potential buyers.
However, since Facebook allows almost anyone to advertise with minimal moderation, it often leads to dangerous scams. Security researchers have found that a frequent multizing campaign is plague to Facebook, taking advantage of the reputation of the famous cryptocurrency exchanges to woo the victims in the maze of malware.
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An iPhone with Facebook login screen. (Kurt “Cybergui” Notson)
How Facebook Crypto Scam works
Bitdefender Labs reports that a malicious advertising campaign has been going on on Facebook for several months. Attackers use misleading advertisements that mimic the popular cryptocurrency brands such as Binens, Trading, Bibit, and Metamasks. To legalize the scam, advertisements are often familiar faces such as Elon Musk, Cristiano Ronaldo or Zandya.
When users click on advertisements, they land on fake websites that look similar to real people. These site motivates visitors to download a so -called “desktop client”. This download serves as an entry point for a sophisticated malware system.
What is Artificial Intelligence (AI)?
Instead of giving direct malware, the fake site launched a silent server on the victim’s device. This server connects with the back-end channel to obtain malicious instructions. This method makes it difficult for traditional safety tools to detect attacks.
To avoid exposure, attackers also use advanced filtering and tracking tools. If a user does not come through a specific Facebook advertising link, the website can show harmless material instead. The site is also designed for automatic tools or sandbox environment that is designed to catch the dangers. In some cases, it blocks access until the user opens it in Microsoft Edge, showing an empty page in other browsers.
The screenshot is showing a malicious Facebook advertisement. (Bitdefnder)
How do hackers use fake Facebook page to spread malware
Bitdender researchers found hundreds of Facebook accounts involved in promoting the campaign, sometimes posting more than 100 advertisements in a single day. While many of these advertisements are quickly taken down, they often rack thousands of ideas before disappearing.
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A Facebook page completely copied the official account of the tradingview, including fake comments, posts, and imagery, except the redirect link that caused malicious clones. The victims targeted men interested in technology and finance, and some advertisements, especially users in Bulgaria and Slovakia, show how attackers fix their campaigns based on geography and demographics.
An iPhone with Facebook login screen.
6 ways to avoid Facebook Crypto Malware Scam
As it shows the Facebook scam, cyber criminals are getting more creative and more confident according to the day. These tips can help you stay one step ahead.
1. Do not trust advertisements because they look familiar
Scammers’ scenes have become the owner of deception. They repeat branding to air their advertisements, using celebrity endorsement and mimic official pages. In Facebook Malwarting Campaign, the attackers used names such as Alone Musk to immediately acquire the trust. Instead of clicking on advertisements, it is safe to type the URL itself and go directly to the company’s official website. If you are ever uncertain about the authenticity of advertising, take a moment to verify with official social media accounts or customer service.
2. Avoid download from advertising link and install strong antivirus software
In these attacks, users were deceived to download the desktop app for reliable services, but were actually malware installers. The best way to protect yourself from malicious links that installs malware, potentially reaches your personal information, is a strong antivirus software installed on all your devices. This security can also make you alert for email and ransomware scams, keeping your personal information and digital assets safe.
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3. Keep your browser up to date
Interestingly, in this campaign the attackers used browser filtering to avoid detection, even motivated users to reopen the site in Microsoft Edge. Using a safe browser such as firefox or brave can help help, and keep it updated ensures that you are protected against the latest hazards. Tools such as content blockers or script filters can also help prevent malicious behavior before starting.
4. Note the subtle red flag
Even the most assured fake websites have often reported, whether it is a little off-brand URL, a strange layout or message that feels quick or normal. A safe URL must start with “https: //” and matches the official domain name. If a site urges you to work quickly, promises high returns or asks for personal information, taking one step back. These emotional pressure strategies are a hallmark of modern scams.
5. Add two-factor authentication (2fa) to close your accounts
Two-factor authentication (2fa) If your accounts are compromised, you can provide an additional layer of security. Even if you accidentally fall for a scam and your login credentials are stolen, it makes it quite difficult for 2FA attackers to reach your account without another verification step.
6. Use data removal service
While no service promises to remove all your data from the Internet, it can reduce your risk of being targeted in the first place using personal data removal service. These services constantly scan data broker sites and request to remove your side, which helps to keep your contact information, location history and interests out of the hands of advertisers and potential scammers. Given that this campaign took advantage of Facebook data to target users interested in crypto and tech, which is less available data about you, it is difficult for the attackers to personalize your scams.
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Kurt’s key to Techway
Facebook’s failure to curb malvertising does not only risk users. It reduces the entire point of its advertising platform. If people start connecting Facebook advertisements with scams and malware, they will stop clicking. And when this happens, the advertisers lose money on the raids that do not go anywhere, rely on the ability to give the real, safe engagement of the platform. For a company that depends a lot on advertising revenue, it allows these dangers to slip, it is not just careless. It is self-destructive. If Facebook does not get a handle on this, both the user and the advertiser will eventually look elsewhere else.
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