Digital Shadows, a cyber threat intelligence firm, has found more than 100 fake domain names registered by cybercriminals looking to make a quick buck off of Facebook’s new project, reports The Independent.
Quick scams across the board
Since Facebook announced its Project Libra stablecoin cryptocurrency, a ton of these domain names were registered to try and trick less knowledgable users into spending money on these false spaces.
The announcement took place on June 18, in which Facebook revealed Libra’s partners like MasterCard, Visa, and PayPal. A majority of the fake domains were registered on the 19th, along with some that relate to the cryptocurrency wallet, Calibra. Some of these websites pretend to be the real Libra website, while others try to scam potential customers with the Libra namesake.
Alex Guirakhoo, the strategic intelligence analyst at the firm, commented on the scenario:
“Instead of relying on media buzz and hype around the brand, these types of scams instead aim to convince victims that they are on a legitimate website, and therefore more likely to trust it with their personal and financial data.”
Allegedly, the potential attackers are able to do this thanks to alternate versions of characters. An example is the Greek version of a lower-case “a,” which looks absolutely identical to the Roman one we use in English. Over six examples of this were found. To someone not looking for anything suspicious, it’s easy to be fooled.
Another website pretends to provide a 25% bonus to users who buy Libra with Ethereum. Guirakhoo further comments:
“For the most convincing of sites, it can be nigh-impossible to determine which is legitimate and which is fake. If it seems implausible or too good to be true, then it probably is. Scammers will constantly try to find ways to outsmart their victims – stay ahead of the game and avoid grandiose claims of fortune.”