Hyderabad,, March 5 :The Telangana State Cyber Security Bureau (TSCSB) has issued a stern warning against fraudulent websites such as 4rabet, winbuzz, and spinmatch, cautioning users about the risks of investing money in these platforms. This comes as cybercrimes inflicted losses exceeding Rs 700 crore last year, a figure anticipated to rise in the current year.
Authorities have pointed fingers at Instagram influencers, alleging their involvement in promoting these fake websites and apps, which have resulted in financial losses and, tragically, fatalities among users.
Instagram influencers, typically boasting over 5,000 followers, are being targeted by these deceptive websites, which offer monetary compensation in exchange for advertising trading, betting, and investment platforms.
Influencers are approached through direct messages, lured into agreements that involve incorporating specific logos into their posts. Payments for these promotions vary based on views or postings, with influencers typically earning around Rs 1,000 per post. However, instances of companies failing to fulfill payment agreements have been reported.
A recent incident saw an influencer’s account sharing trading advertisements, prompting authorities to issue warnings against such activities. Additionally, fraudsters are resorting to impersonating celebrities, sending fake trading and investment links to unsuspecting users.
These fraudulent websites primarily target vulnerable groups such as software engineers, housewives, and students, reaching out to them through popular social media platforms like Instagram.
Despite limited investments in advertising, these scams continue to exploit vulnerable individuals, highlighting the need for heightened vigilance and regulatory measures to combat cybercrime.
The TSCSB urges citizens to remain cautious and verify the authenticity of websites and promotions before engaging in any financial transactions online. It underscores the importance of awareness and proactive measures in safeguarding against cyber threats in an increasingly digital world.
