A new report from cybersecurity firm CTM360 has uncovered a vast and sophisticated network of more than 17,000 fake news websites fueling investment fraud on a global scale. The findings, detailed in CTM360’s “BaitTrap” report, highlight the growing threat posed by these so-called Baiting News Sites (BNS), which have been identified in over 50 countries.
The Anatomy of a Global Scam
The BNS network operates by mimicking the appearance and branding of reputable media outlets—including global names like CNN, BBC, and CNBC, as well as prominent regional news organizations. These fraudulent sites publish fabricated stories featuring well-known public figures, central banks, and financial institutions, all touting seemingly lucrative investment opportunities.
The scam typically begins with sponsored advertisements placed on major digital platforms such as Google and Meta (which includes Facebook and Instagram). These ads use clickbait headlines and authentic-looking imagery to attract potential victims. Upon clicking, users are redirected to the fake news sites, where they encounter convincing articles designed to build trust and credibility.
From there, victims are funneled to fraudulent investment platforms—such as Trap10, Solara Vynex, or Eclipse Earn—where the scam enters its second phase. Here, so-called financial advisors contact the victims, requesting identity verification, cryptocurrency deposits, and ongoing account “verifications” that serve to delay withdrawals and extract further funds.
Key Findings from CTM360
- Global Reach: Over 17,000 fake news domains have been identified, operating across more than 50 countries.
- Sophisticated Tactics: The scams leverage professional branding, regional familiarity, and advanced digital advertising techniques to maximize their reach and effectiveness.
- Layered Deception: The multi-phase approach is designed to build trust rapidly, delay suspicion, and maximize financial losses before victims become aware of the fraud.
- Continuous Threat Monitoring: CTM360 employs its Webhunt platform to detect, monitor, and facilitate the takedown of these fraudulent sites.
| Example Fake News URL | Notes |
|---|---|
| abcnews.com.co | Impersonates ABC News |
| drudgereport.com.co | Impersonates Drudge Report |
| times.com.mx | Impostor news site |
| thebigRiddle.com | Listed as a fake news site |
| topsecretleaks.com | Fake news and conspiracy content |
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Implications and Recommendations
The scale and professionalism of these operations present a significant challenge for both consumers and regulatory authorities. By exploiting the public’s trust in established news brands and leveraging the reach of digital advertising, scammers are able to operate with alarming efficiency.
CTM360 urges individuals to exercise caution when encountering online investment opportunities, particularly those promoted through sensational news stories or sponsored ads. Investors are advised to verify the legitimacy of offers through official channels and to report any suspicious websites to relevant authorities or cybersecurity organizations.
