Instagram Phishing Scam Steals Money from Russian Entrepreneurs

Instagram Phishing Scam Steals Money from Russian Entrepreneurs

Hackers had been found working a large-scale phishing campaign on Instagram to scam Russians by promising them an honest sum payment to start their business.Instagram Phishing Scam Steals Money from Russian Entrepreneurs

As per reports, over 200,000 individuals viewed the messages since the campaign launch.

The hacker group has allegedly crafted a faux presidential order that guarantees a payment amount for citizens prepared to embark on their new business journey.

As noticed by the specialists, the cybercriminals have made a great effort in promoting their declaration and make it look real.

The scam seems to be the kind where targets are asked to transfer some cash to get a promised larger amount, which is upwards of 100,000 rubles (~$1,600).

Most significantly, in the process, the cost card information is also received

Experts found two phishing websites devoted to this scam.

Once a target lands on one of these websites, it must check eligibility and entitlement to receive the fund.

In the next tab, the goal is asked to make a 300 rubles (~$5) fee payment for the digital application to get it.

The checkout web page asks for more particulars, along with the phone number and info on the payment card evidently that the crooks get each the registration fee and all the information provided.

Fraudsters depend on commercials delivered on Instagram to advertise the scheme.

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