Fraudsters are deploying a sophisticated scheme on social media platforms like Discord, promoting over 1,200 polished gaming and wagering websites. These sites promise users $2,500 credits and free access to high-quality games, but ultimately defraud players by requesting cryptocurrency deposits and failing to return their funds.
The scams begin with deceptive advertisements claiming partnerships with popular figures like Mr. Beast, who recently launched a gaming business called Beast Games. The ads typically promise users a $2,500 credit in exchange for a promo code. Users must create a free account to claim the credit, enabling them to play various games that involve betting on each action. However, when users attempt to withdraw any ‘winnings,’ the site blocks the request and demands a ‘verification deposit’ of cryptocurrency, typically around $100. This deposit often leads to further requests for additional payments, with no actual funds ever being released. Those who fall for the scam may face persistent attempts from so-called ‘recovery experts’ on social media, offering dubious claims of being able to retrieve funds lost to such scams.
Threat hunting platform Silent Push has identified over 1,270 recently-registered domains associated with these scam sites, all of which invoke gaming or wagering themes. These domains use the same chat API, indicating a coordinated effort among scammers. The incident highlights the need for increased vigilance among internet users and the importance of verifying the legitimacy of online platforms before engaging with them. The scam underscores the growing threat of cryptocurrency fraud and the exploitation of user trust through sophisticated social engineering tactics.