"Crypto-Doubling Scams Surge Following Presidential Debate"

Security researchers at Netcraft have warned of a new wave of investment scams attempting to cash in on public awareness of the presidential debate last month. The researchers found 24 such domains related to the debate, including 14 phishing sites using the word “debate” in their domain. Many of the websites exploit the image of Republican presidential nominee Donald Trump, tech entrepreneur and billionaire Elon Musk, or a blend of both. The researchers noted that criminals likely use these personas to add legitimacy to their crypto investment theme. Crypto-doubling scams trick victims into handing over their cryptocurrency with the promise of doubling their investment. They offer quick returns and fake celebrity endorsements but little transparency about how the scheme works. The researchers noted that the threat actors also try to hurry victims into making rash decisions by creating a sense of urgency. The researchers said it has observed these presidential debate-themed crypto-doubling scams being distributed by hijacked and malicious YouTube channels in which Musk discusses the debate, although it claimed that they’re also being spread on X, Facebook, Instagram, and Telegram.

Infosecurity Magazine reports: "Crypto-Doubling Scams Surge Following Presidential Debate"