Researchers have uncovered a gigantic network of more than 11,000 domains used to promote numerous fake investment schemes to users in Europe.
The platforms show fabricated evidence of enrichment and falsified celebrity endorsements to create an image of legitimacy and lure in a larger number of victims.
The goal of the operation is to trick users into an opportunity for high-return investments and convince them to deposit a minimum amount of 250 EUR ($255) to sign up for the fake services.
Researchers at cybersecurity company
Group-IB discovered the operation and mapped the massive network of phishing sites, content hosts, and redirections.
According to Group-IB, more than 5,000 of the identified malicious domains are still active.
Currently, the countries targeted in this scheme are the UK, Belgium, Germany, the Netherlands, Portugal, Poland, Norway, Sweden, and the Czech Republic.
