October 3, 2024 at 03:37PM Fake trading apps on Google Play and Apple’s App Store, known as “UniShadowTrade” malware, have been removed after attracting thousands of downloads. These apps perpetrate “pig butchering” scams, enticing victims with fake investment returns. Once funds are deposited, fraudsters prevent withdrawals, eventually absconding with the money. The threat has now … Read more
October 2, 2024 at 01:27PM Group-IB reported on a large-scale fraud campaign involving fake trading apps on Apple App Store and Google Play Store, using phishing sites to deceive victims. Operating globally, the campaign leverages social engineering, targeting victims for investment fraud. The cybercriminals utilized a fake app to deceive victims into making investments, subsequently … Read more
July 10, 2024 at 04:41PM Online marketplace Huione Guarantee is allegedly aiding money laundering for online scams, particularly “pig butchering” investment fraud, according to researchers. They found that at least $11 billion of transactions on the platform were linked to cybercrime, including investment fraud, data sales, and money laundering. The platform’s lack of moderation and … Read more
March 19, 2024 at 04:05PM The FBI reported that investment fraud, particularly involving cryptocurrency, led to a $4.57 billion loss in 2023, surpassing losses from ransomware. Scams preyed on victims’ desire for quick profits and even targeted those seeking recovery from previous scams. Older individuals were especially vulnerable, accounting for substantial losses and an increase … Read more
February 28, 2024 at 09:39AM Savvy Seahorse uses CNAME DNS records to create a traffic distribution system for financial scam campaigns. Infoblox researchers uncovered this operation in August 2021, noting the use of chatbots to automate scamming and the abuse of DNS CNAME records to manage redirects and evade detection. The actor targets victims through … Read more
December 19, 2023 at 02:13PM ‘Operation HAECHI IV’ led to the arrest of 3,500 suspects for lower-tier cybercrimes, seizing $300 million in illicit proceeds. South Korea led the operation with 34 countries’ support. The operation targeted various cybercrimes, froze 82,112 bank accounts, and seized $199 million in hard currency and $101 million in digital assets. … Read more
December 14, 2023 at 02:54PM Four suspects, including residents of California and Illinois, have been charged by the U.S. Department of Justice in a pig butchering fraud scheme, leading to over $80 million in losses for victims. They are accused of money laundering and operating shell companies to launder profits from cryptocurrency scams, ultimately siphoning … Read more