Investment Fraud | Breaking Cybersecurity News | The Hacker News

Law enforcement authorities in Europe have arrested five suspects in connection with an "elaborate" online investment fraud scheme that stole more than €100 million ($118 million) from over 100 victims in France, Germany, Italy, and Spain. According to Eurojust , the coordinated action saw searches in five places across Spain and Portugal, as well as in Italy, Romania and Bulgaria. Bank accounts and other financial assets associated with the cybercrime ring were frozen. The main perpetrator behind the operation has been accused of large-scale fraud and money laundering by running an online investment platform for several years, tricking unsuspecting individuals into parting with their funds by promising them high returns on investments in various cryptocurrencies. Once the deposits were made, the funds were transferred to bank accounts in Lithuania to launder them. Victims who attempted to withdraw their assets from the platform were asked to pay additional fees, after wh...

A newly released report by cybersecurity firm CTM360 reveals a large-scale scam operation utilizing fake news websites—known as Baiting News Sites (BNS)—to deceive users into online investment fraud across 50 countries. These BNS pages are made to look like real news outlets: CNN, BBC, CNBC, or regional media. They publish fake stories that feature public figures, central banks, or financial brands, all claiming to back new ways to earn passive income. The goal? Build trust quickly and steer readers toward professional-looking scam platforms like Trap10, Solara Vynex, or Eclipse Earn. Scammers use sponsored ads on Google, Meta, and blog networks to push traffic to these sites. Ads often carry clickbait headlines—"You won't believe what a prominent public figure just revealed"—paired with official photos or national flags to make them feel legit. Clicking the ad directs users to a fake article, which then redirects them to a fraudulent trading platform. Many of these scams follow a...