BaitTrap Reveals Global Web of 17,000+ Fraud-Promoting Fake News Sites

Cybersecurity firm CTM360 has unveiled an extensive network of over 17,000 Baiting News Sites (BNS), engineered by cybercriminals to disseminate investment fraud on a global scale.

These deceptive platforms, identified through CTM360’s proprietary WebHunt monitoring system, masquerade as authoritative news entities such as CNN, BBC, CNBC, and regional counterparts, fabricating narratives that falsely associate prominent public figures, central banks, and commercial financial institutions with lucrative, nonexistent investment opportunities.

By leveraging advanced social engineering tactics, scammers propagate these sites via targeted advertising on platforms like Google Ads and Meta, redirecting unsuspecting users to sophisticated scam ecosystems including Trap10 and automated cryptocurrency trading frauds.

Scammers Exploit Mimicked Media Outlets

The ultimate objective is to engender false credibility, harvesting personal identifiable information (PII) and siphoning funds through illusory high-yield schemes.

Spanning 50 countries, these BNS instances are meticulously localized, incorporating native languages, recognizable regional influencers, and familiar banking brands to enhance ...