Scammers clone news sites and crypto platforms to steal funds

Criminals are cloning the websites of major news organisations to publish fabricated articles about celebrity investments, funneling readers into sophisticated cryptocurrency scams.

The fraudulent operation begins with links shared on social media feeds. Clicking these links takes users to replicas of respected outlets, complete with matching designs and the stolen bylines of real reporters. The fake stories claim that figures like Jim Ratcliffe and David Attenborough have used secret investment platforms to generate wealth, providing a link for readers to do the same.

These links direct victims to imitations of legitimate trading platforms such as Kraken. Once a user submits their contact details on the cloned site, they are phoned by scammers who pressure them into transferring funds to non-existent investment accounts. Factchecking charity Full Fact noted that at least one scheme used an AI-generated image bearing a SynthID watermark to fabricate evidence.

For retail investors, the scams represent a heightened threat to financial security, exploiting the trusted reputations of both mainstream media and established crypto exchanges. The use of generative AI to create convincing fake imagery lowers the barrier for fraudsters, making these campaigns cheaper and harder to distinguish from genuine journalism at a glance.

A spokesperson for the Guardian said the publication is "one of several trusted media companies whose brand and reputation is exploited by criminals". They added that while the Guardian enforces strict brand safety controls, "social media and advertising platforms have the greater visibility required to detect, block and prevent some of this activity at source and need to do more."

Nick Percoco, chief security officer at Kraken, warned that "anyone who guaranteed returns using the name of the company is a fraud." He noted that criminals clone trusted brands "precisely because it is trusted, then use invented news stories and AI‑generated images to push people toward a copycat site that quietly takes their money." Percoco stated the exchange actively works with hosting providers and law enforcement to shut down impersonation domains.

Victims who have handed over funds are advised to contact their bank immediately before reporting the incident to authorities.