Hyderabad: The Telangana State Cyber Security Bureau (TSCSB) warns against sites like 4rabet, winbuzz, and spinmatch, which deceive users into investing money. Last year, cybercrimes caused over Rs 700 crore in losses, a figure expected to rise this year.
The authorities allege that the Instagram influencers are promoting fake websites and apps, leading to financial losses and even fatalities among users.
These influencers, often with over 5,000 followers, are approached by fake websites offering money to advertise trading, betting, and investment platforms.
Influencers receive offers via direct messages, agreeing to promotions that require adding specific logos to their posts.
Payments vary based on views or postings, with influencers earning around Rs 1,000 per post. However, some companies fail to fulfill payment agreements.
Recently, an Influencer’s account posted trading ads, leading to warnings from authorities. Fraudsters impersonating celebrities send fake trading and investment links to unsuspecting users.
These fraudulent websites target software engineers, housewives, and students, reaching them through social media platforms like Instagram.
Despite minimal investment in advertising, these scams continue to exploit vulnerable individuals.
