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In a recent wave of cryptocurrency scams, cybercriminals have targeted Indian audiences using a fake BBC report that features billionaire Anant Ambani, the son of India’s wealthiest family, to lend credibility to a fraudulent crypto investment scheme. The scammers aim to lure unsuspecting readers into signing up for a fictitious platform, promising significant returns on minimal investments.
To create a convincing facade, the scam operates by mimicking a genuine BBC News report, complete with clickbait headlines and the official BBC logo. The article, which falsely credits former BBC journalist Jane Wakefield as the author, claims that Anant Ambani has endorsed a cryptocurrency investment platform capable of generating millions from small initial investments. This fraudulent scheme taps into public trust in reputable news organizations and high-profile figures to appear authentic.
The fraudulent report initially appears as an ad on the social media platform X (formerly Twitter), likely posted from a compromised account. At first glance, the post resembles a legitimate news article, imitating the layout and design of the BBC website. However, upon clicking, users are directed to a different web address, “nguyenhm.com,” rather than the official BBC domain, “bbc.com.” On this landing page, all links redirect to a suspicious cryptocurrency trading platform instead of genuine news sections. The absence of clickable elements that typically navigate BBC’s homepage further signals the deception, though casual users may overlook this red flag.
The fake article claims that Ambani participated in an interview where he allegedly made controversial statements, such as “poverty is a human choice,” and urged readers to explore alternative income sources. The conversation then shifts to investment advice, with Ambani purportedly endorsing Everix Edge's platform. According to the article, Ambani advises readers to invest as little as INR 26,000 (around $30), suggesting it could grow into a million within three to four months.
Everix Edge is a sophisticated investment platform powered by blockchain and artificial intelligence that claims to engage in arbitrage trading by exploiting price differences across major exchanges like Coinbase, Binance, and Kraken. To increase its credibility, the platform includes fake testimonials from well-known figures, including Canadian broadcaster Kevin Newman and billionaire David Thompson. The scam requests users to provide personal details, including name, address, email, and phone number, under the guise of activating an account. This information is used to defraud individuals, leading them to financial losses rather than promised profits.
This scam isn’t the first time crypto fraudsters have impersonated the BBC to mislead the public. Similar fake BBC articles promoting dubious investment platforms appeared in May 2024, prompting Indian authorities to act. The Delhi High Court previously ordered the removal of such posts on platforms like Meta and X and blocked related websites in June. However, the scammers have shifted to a new domain provider, continuing their fraudulent activities largely unchecked.
Scammers have repeatedly used this strategy of leveraging prominent personalities and reputable media outlets. In 2019, a similar scam fabricated an interview with actress Kate Winslet, falsely claiming she had amassed wealth through crypto investments. High-profile figures, including Tesla’s Elon Musk and Apple’s Tim Cook, have also been impersonated to lend credibility to fraudulent schemes.
The persistence of these scams underscores the need for stronger regulatory and enforcement measures to protect potential victims. As cybercriminals adapt to bypass existing restrictions, authorities worldwide must prioritize educating the public on recognizing and avoiding such sophisticated crypto scams.
editor
A web 3 girl living in a web 2 world.
