Crypto scammers target Indians using fake BBC report

A fake BBC report featuring clickbait headlines about Indian billionaire Anant Ambani was making rounds on X, attempting to lure readers into a cryptocurrency scam.

Crypto scammers are targeting Indians with a sophisticated scam that impersonates BBC News, using fake reports and clickbait headlines featuring Indian billionaire Anant Ambani.

The fabricated article, attributed to former BBC journalist Jane Wakefield, claims that Ambani, a prominent business tycoon, has endorsed a lucrative crypto investment platform, which can turn small investments into millions within months.

Upon first glance, the X post, which appeared as an ad from a potentially hijacked account, looks like a genuine news article, complete with the BBC logo, headline, and layout resembling the reputable news outlet’s website.

Scammers promoting fake news article on X. Source: crypto.news

However, clicking the link reveals a different web address, “nguyenhm.com,” rather than the actual “bbc.com.” The landing page also lacks clickable elements typically found on the BBC site, with all functional links redirecting to a suspicious cryptocurrency trading platform rather than news sections or homepage links.

The fake article describes a supposed interview with Anant Ambani, where he allegedly engages in a heated exchange, responding to pointed questions about wealth and poverty. Ambani is quoted making bold statements like “poverty is a human choice” and urging people to “start living differently” by embracing alternative income sources.

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Soon, the conversation turns to investment advice as Ambani introduces Everix Edge, an investment platform he claims can turn inr 26,000 (approximately $30) into a million “in just 3-4 months.”

Everix Edge advertises itself as a blockchain and artificial intelligence-powered investment platform, claiming to leverage arbitrage trading by exploiting price differences across popular exchanges like Coinbase, Binance, Kraken, Poloniex, and Bittrex. Meanwhile, it presents fake testimonials from Canadian broadcaster Kevin Newman and billionaire David Thompson.

False testimonials advertised on Everix Edge. Source: crypto.news

Users are requested to sign up with personal information, including name, address, email, and phone number to activate their account. However, this data would instead be used to scam the individuals out of their money.

The scam has been circulating for some time, with some previous instances featuring similar BBC articles surfacing in May 2024. Indian authorities have also taken action previously, with the Delhi High Court ordering the removal of posts promoting the scheme on Meta and X, and blocking related websites in June.

Unfortunately, that seems to have had little effect as the scammers have moved their scheme to a different domain provider.

As previously reported by crypto.news, a similar scam involving BBC surfaced in 2019, where a fake interview of Hollywood actress Kate Winslet claimed the Titanic star made her fortunes through crypto investments and urged readers to do the same.

Over the years, crypto scammers have impersonated several other celebrities including Tesla CEO Elon Musk, and Apple CEO Tim Cook to promote their nefarious schemes.

Read more: Crypto scammers hijack Truth Terminal founder’s X account

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