A bogus website was reported to Hong Kong authorities by the South China Morning Post (SCMP) after it was found to be using the publication’s identity to advertise a cryptocurrency scam.
A phony story purporting that Hong Kong tycoon Li Ka-shing supported a cryptocurrency auto-trading platform in a TVB interview was published by the phony website.
The April 17 fake article closely mirrored the genuine SCMP website design and included manipulated screenshots to trick readers. Li Ka-shing did not make any such remarks in any TVB interview, and SCMP reaffirmed that no such article was published on its official platform.
SCMP Raises Alarm Over Fake Post
“We are aware of the situation and have reported it to police,” said an SCMP spokeswoman, advising readers to stay alert and only obtain news from the official SCMP website.
This episode demonstrates a rising pattern in which con artists use the authority of well-known media organizations and public people to give fraudulent investment schemes credence.
In order to prevent becoming victims of such frauds, the public has been warned by the SCMP and TVB to confirm information from reliable sources and to take legal action. ​
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What Was The False Website Promoting?
The false website claimed in a phony post that Li Ka-shing, a Hong Kong tycoon, had supported a bitcoin auto-trading platform in a live television interview.
In the April 17 piece, which contained manipulated screenshots and untrue claims that Li disclosed making millions of dollars on the platform.
By playing on Li’s reputation, these false assertions were intended to deceive readers and entice them to fall for cryptocurrency frauds.
The South China Morning Post’s official website never included the piece, and Li Ka-shing and SCMP have denied any involvement with the content.
Fake Website For Crypto Scams Sees Rise
This instance fits into a larger pattern in which con artists use the legitimacy of reputable media organizations to trick people.
Fraudsters try to fool viewers into thinking they are reading real news by designing phony websites that closely mimic reputable news outlets.
These phony websites frequently provide articles that seem credible and professional, occasionally posing as well-known public personalities or celebrities to increase their legitimacy.
In order to induce a false sense of urgency and coerce victims into spending their money, scammers frequently make time-sensitive claims or promise rapid financial benefits.
These strategies aim to reduce skepticism and promote snap judgments, which makes many unwary people fall for scams using cryptocurrencies.
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