In the wake of the second US presidential election debate between Democrat Kamala Harris and Republican Donald Trump (September 10), Netcraft identified a series of crypto investment scams monopolizing on the publicity around this key event.
Our research uncovered 24 crypto-doubling scam domains related to the debate, including 14 phishing websites using the word “debate” in their domain, e.g. debatetrump[.]io, tesladebate[.]com, and debate[.]money.
All the examples exploit the image of Republican presidential nominee Donald Trump, tech entrepreneur and billionaire, Elon Musk, or a blend of both. Criminals likely use these personas to add legitimacy to their crypto investment theme—one political leader, one policy influencer, both conveying the perception of wealth and authority.
Netcraft observed similar tactics being used in attacks in March, during some of the earlier primary elections. In July, following the assassination attempt of Donald Trump, others were also discovered.
In the lead up to the US presidential election on November 5, we expect to see these kinds of attacks continue. To help brands and internet users act with greater caution during that time, this article analyzes the different variants from this latest, debate-themed scam. It also includes guidance for organizations at risk from similar impersonation of their brand, intellectual property (IP), and executive personas.
What is crypto-doubling?
Crypto-doubling scams lure victims into transferring cryptocurrency under the false pretence that their investments will be doubled. The perpetrators of these scams commonly use social engineering tactics via email, social media platforms, and messaging apps to coax victims into visiting a phishing website where the fraudulent transaction then takes place.
Crypto-doubling scams use the following tactics:
- Promises of quick returns, which often emphasize a rapid doubling of the victim’s investment.
- A sense of urgency to encourag
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