Beware of Crypto Scams Tied to Trump and Harris Debate

02-10-2024 By: Sakshi Jain

US Election Debate Crypto Scams: Don’t Fall for Phishing Attacks

In the aftermath of the US presidential debate on September 10 between Kamala Harris and Donald Trump, a wave of crypto-doubling scams has emerged. These scams are taking advantage of the increased public attention around the event to trick people into losing their cryptocurrency investments.

What Are Crypto-Doubling Scams?

Crypto-doubling scams promise victims that their cryptocurrency investments will be doubled in a short period. Criminals use social engineering tactics, such as fake endorsements and urgency, to lure people into transferring their funds. Victims are directed to phishing websites where the fraudulent transactions take place.

Scams Exploit Public Figures

Netcraft, an internet security company, identified 24 scam websites related to the debate. These scams often use the names and images of famous figures like Donald Trump and Elon Musk to make the scams seem more legitimate. The criminals behind these scams aim to build trust by associating their fraudulent schemes with well-known personalities, creating a false sense of security.

Common Tactics Used

The scams typically involve:

Promises of quick returns and doubled investments.
Urgent messages to push people into acting fast.
Fake endorsements from public figures like Trump and Musk.
A lack of transparency, with little to no detail about the supposed investment.

Three Variants of the Scams

1. Elon Musk X Donald Trump Crypto Giveaway

This variant uses custom website copy, trusted logos, and step-by-step instructions to encourage users to send cryptocurrency. Though it doesn’t mention the debate directly, it uses a debate-themed domain name like "debatetrump[.]io."

2. Huge Giveaway During Donald Trump and Kamala Harris US Election Debate

This variant directly references the US election debate between Trump and Kamala Harris. It uses Elon Musk's Tesla logo instead of political branding, aiming to attract both political and cryptocurrency audiences.

3. Biggest Crypto Giveaway

This variant is more generic, swapping different public figures like Trump and Musk with minimal changes to the website. It focuses on using quick, generic text to scam people with less effort from the attackers.

How to Stay Safe

These scams are spread through social media platforms, including YouTube, where fake videos featuring Elon Musk are used to lure victims. Other platforms like X (formerly Twitter), Facebook, Instagram, and Telegram have also been used for distribution.

Netcraft advises people to be cautious, especially when dealing with unsolicited investment offers. Brands and individuals can protect themselves by quickly identifying and removing these phishing websites before they cause more harm.

WHAT'S YOUR OPINION?