Crypto scammers target Indians using fake BBC report

A fake BBC report containing clickbait headlines about Indian billionaire Anant Ambani was circulating on X, trying to lure readers into a cryptocurrency scam.

Crypto scammers are targeting Indians with a sophisticated scam impersonating 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 prominent businessman Ambani is backing a lucrative crypto investment platform that can turn small investments into millions within months.

Posing as an ad from a potentially compromised account, post

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

But clicking the link reveals a different web address called “nguyenhm.com” instead of the actual “bbc.com”. The landing page also lacks the clickable elements found on the BBC site; all functional links redirect to a dubious cryptocurrency trading platform rather than news sections or homepage links.

The fake article describes an interview with Anant Ambani, in which he allegedly had a heated exchange and responded to pointed questions about wealth and poverty. Ambani is reported to have made bold statements such as “poverty is a human choice” and called on people to “start living differently” by adopting alternative sources of income.

The conversation soon turns to investment advice, as Ambani introduces Everix Edge, an investment platform that he claims can turn 26,000 Indian rupees (about $30) into a million in “just 3-4 months.”

Everix Edge bills itself as a blockchain and AI-powered investment platform and claims to leverage arbitrage trading by taking advantage of price differences on popular exchanges such as Coinbase, Binance, Kraken, Poloniex, and Bittrex. Meanwhile, he offers fake testimonials from Canadian broadcaster Kevin Newman and billionaire David Thompson.

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

To activate their account, users are asked to register with personal information such as name, address, email and phone number. However, this data will instead be used to defraud individuals of their money.

The scam has been around for some time, and some earlier examples involving similar articles from the BBC surfaced in May 2024. Indian authorities had taken action before, and the Delhi High Court decided to remove posts promoting this plan on Meta and X and block these sites. Related websites in June.

Unfortunately, this appears to have had little impact as the scammers moved their plans to a different domain provider.

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

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