If you see this ad on social media, the scam has begun

Cybercriminals are using public figures to promote fake investments in cryptocurrencies.

TNEcom Canarias, a cybersecurity company, has identified a massive campaign of scams on social media that uses the image of Spanish public figures to promote fraudulent investments in cryptocurrencies. This operation has flooded platforms like Facebook and Instagram with fake ads that appear to be backed by high-profile personalities, including the president of a well-known football club, the president of an autonomous community, and members of the Royal House. These public figures have been victims of identity theft, as they have no connection to the cryptocurrency investment campaign.

The scammers have designed these ads to look legitimate, using advanced social engineering techniques, such as voice and video cloning, to lend credibility to their false promises of secure investment. Victims, drawn in by the apparent authenticity of these ads, are redirected to fraudulent websites where they are asked for an initial deposit of €250 to start investing.

“This is an extremely well-executed social engineering scheme,” commented a spokesperson for TNEcom Canarias. The company has conducted a thorough digital forensic investigation, following the protocols established in the Cybersecurity Law 03/2023. This investigation has allowed them to trace the IP addresses, the equipment used, and the locations from where the attacks originate. All collected information has been handed over to the competent authorities to stop the campaign and bring those responsible to justice.

The company has issued a series of recommendations for citizens to protect themselves from this type of fraud. It advises not to trust ads that use public figures to promote investments, and to always verify the sources of any website.