Bad Actors are using Facebook to Scam People

Facebook is the favorite social media platform for many. A recent survey shows that there are more than 2 billion active users on this platform worldwide. On the other hand, the revenue filings also claim that the entity has officially become a $1 trillion social media platform. This massive success comes at a cost. While many considered it a great place to advertise small businesses and interact with their loved ones, hackers and scammers are flocking here searching for potential targets.

The Facebook developers and core teams keep updating the algorithm. However, they can’t stop people from using the free social interaction medium for free. There are more than one ways that scammers are setting traps for crypto scamming. Other social media platforms are also available and targeted by threat actors. Nevertheless, such a massive presence of active users makes Facebook the perfect place to commit crypto-related frauds. 

Learning more about the Nature of Crypto Scams on Facebook is a Good Way to Avoid Them

It is rightly said that knowledge is power. Therefore, when the information about such scams is made public, more people can identify them before it’s too late. Among the most popular types of scams happening on Facebook are Phishing messages. The threat actors want to get as much personal information from the users as possible.

With this information, they can figure out the passwords and break into personal accounts on several platforms. For example, the bad actors impersonate the Facebook authorities and send their users a fabricated email asking for sensitive information. Other types of scam are the con loan sharks. These con artists would be posing as a banker or a financial enterprise offering services to their users on unbelievable interest rates and a small advance amount. 

The most recent victim of such a ruse is Ron Perlman, the Hollywood actor. After being informed about the Facebook fraud attempt, he has updated his Twitter bio, warning victims about the potential scam. The scammers are trying to approach their victims by posing as celebrities through a live feed. Then, they take an old video of the actors or any other celebrity and dub voice over it to make it sound more authentic.

The celebrities who are not on Facebook find out about these scams very late. Another scam that exploits famous personalities is the giveaway scam. The threat actors impersonating as any of these people with massive followership try to offer their users fake giveaways. Unsurprisingly these giveaways ask victims to send their personal information to threat actors or a small amount of money. So people need to report fake accounts and talk about these incidents among their friends and family members as a way to make education about these scams more common.