Pig Butchering | Breaking Cybersecurity News | The Hacker News

Meta on Thursday said it's taking legal action to tackle scams on its platforms by filing lawsuits against what it calls deceptive advertisers based in Brazil, China, and Vietnam. As part of the effort, the advertisers' methods of payment have been suspended, related accounts have been disabled, and the website domain names used to pull off the scams have been blocked. Concurrently, the social media giant said it has also issued cease and desist letters to eight marketing consultants who advertised the ability to bypass its ad policy enforcement systems. This included fake "un-ban" or account restoration services and renting access to trusted accounts so as to help clients bypass its controls. At least three advertisers, two from Brazil and one from China, were found to engage in celeb-bait scams, which often involve misusing the image of well-known figures to trick people into clicking on bogus ads that lead to scam sites. These websites are designed to harvest ...

Cybersecurity researchers are calling attention to a new kind of investment scam that leverages a combination of social media malvertising, company-branded posts, and artificial intelligence (AI) powered video testimonials featuring famous personalities, ultimately leading to financial and data loss. "The main goal of the fraudsters is to lead victims to phishing websites and forms that harvest their personal information," ESET noted in its H2 2024 Threat Report shared with The Hacker News. The Slovak cybersecurity company is tracking the threat under the name Nomani , a play on the phrase "no money." It said the scam grew by over 335% between H1 and H2 2024, with more than 100 new URLs detected daily on average between May and November 2024. The attacks play out through fraudulent ads on social media platforms, in several cases targeting people who have previously been scammed by making use of Europol- and INTERPOL-related lures about contacting them for help ...

A 31-year-old Moldovan national has been sentenced to 42 months in prison in the U.S. for operating an illicit marketplace called E-Root Marketplace that offered for sale hundreds of thousands of compromised credentials, the Department of Justice (DoJ) announced. Sandu Boris Diaconu was charged with conspiracy to commit access device and computer fraud and possession of 15 or more unauthorized access devices. He pleaded guilty on December 1, 2023. "The E-Root Marketplace operated across a widely distributed network and took steps to hide the identities of its administrators, buyers, and sellers," the DoJ  said  last week. "Buyers could search for compromised computer credentials on E-Root, such as usernames and passwords that would allow buyers to access remote computers for purposes of stealing private information or manipulating the contents of the remote computer." Prospective customers could also search for RDP and SSH credentials based on various filter c...

The U.S. Justice Department (DoJ) on Monday  announced  the takedown of seven domain names in connection to a "pig butchering" cryptocurrency scam. The fraudulent scheme, which operated from May to August 2022, netted the actors over $10 million from five victims, the DoJ said. Pig butchering, also called Sha Zhu Pan, is a type of scam in which swindlers lure unsuspecting investors into sending their crypto assets. The criminals encounter potential victims on dating apps, social media sites, and through SMS messages. These individuals initiate fake relationships in an attempt to build trust, only to trick them into making a cryptocurrency investment on a bogus platform. But upon transferring the funds to wallet addresses supposedly provided by these domains, the digital currencies are said to have been immediately moved through an array of private wallets and swapping services to conceal the trail. "Once the money is sent to the fake investment app, the scammer van...