The crypto investment scam that’s all over social media
I’m all about using AI to get stuff done. No kidding, I use ChatGPT every day to shortcut planning and organize my work and my life.
You know who else loves AI? Cybercriminals. A new scam powered by deepfakes is all over social media. Too many people have fallen for it and lost millions of dollars in the process. I’ve got the dirty details so you don’t become a victim, too.
It’s not Elon
The tactic is called Nomani (yeah, that’s “no money”) and combines AI video, malicious ads on social media and email phishing. It started spiking in May and grew 335% by the second half of 2024. From May to November, ESET Cybersecurity says they blocked about 100 new scam URLs a day, adding up to 85,000 sites.
It starts with a video of Elon Musk or some other celebrity, politician or business leader endorsing a crypto investment on YouTube, Facebook, Instagram or X. Some videos look like news broadcasts. Others are “exclusive” interviews or look more like an infomercial. There’s always a famous face you’ll recognize.
Usually, the accounts posting this stuff have tons of followers. The graphics are snazzy, the info is compelling, and, wow, they promise a lot of tremendous gains with no risk. (You smell the scam, right?)
Say you fall for the bait and click over to their websites. At best, you’re handing your info over to someone highly skilled at tricking people out of their money. At worst? The site itself is infected with money- or info-stealing malware.
It gets nastier
Most of these tricks end with an “investment manager” calling to walk you through the process of transferring all your hard-earned money right to them. They pretend they’re helping you put it into a crypto investment account. Nope.
If you’ve already fallen for Nomani, you’re at even more risk. Scammers are going after victims a second time, pretending to be law enforcement trying to help recover your lost funds. Just awful.
Here’s what scammers don’t want you to know
It’s easier than ever to fake famous faces because of how much real video exists online. With affordable or free software, scammers no longer need advanced skills or a huge budget to create deepfakes. AI tools do the heavy lifting, stitching together eerily realistic fakes.
5 clever tricks holiday scammers use
JD in Dallas emailed me with a story. He and his wife were at the mall and stopped for a Christmas selfie. Two young men walking by offered to take the pic for them — and one kept wiping the phone’s lens inside his jacket.
Malware warning: Red flags your computer is under attack
It’s Computer Security Day, and there’s no better time to remind you malware is lurking everywhere. From phishing emails to unsuspecting ads, just one wrong click can compromise your personal info or infect your devices.