Cybersecurity experts at CTM360 have uncovered a growing trend of cryptocurrency-related scams targeting individuals who use TikTok Shop.
A report released on August 4 details how perpetrators are executing a deceptive operation dubbed “ClickTok,” ensnaring unsuspecting users with bogus websites, harmful software, and deceptive promotional content.
The scheme originates with advertisements on Meta’s platforms and TikTok videos generated with AI, crafted to mimic authentic posts from popular influencers. These lead consumers to fraudulent online storefronts meticulously designed to resemble legitimate shopping sites.
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CTM360 reports that these fabricated websites are engineered either to compromise user credentials or to install applications containing concealed malware.
The investigation has revealed over 10,000 fraudulent websites tied to this ongoing operation. Although TikTok Shop’s availability is currently limited to 17 nations, the repercussions of this scam have been felt globally.
Upon arriving at these deceptive sites, visitors are presented with heavily discounted items, accompanied by high-pressure sales tactics such as countdown timers designed to induce a sense of urgency. This prompts impulsive purchasing decisions without adequate deliberation. Subsequently, the perpetrators solicit payment in cryptocurrency, frequently in the form of Tether
In addition, scammers are targeting participants in TikTok’s affiliate marketing program. Victims are contacted via WhatsApp or Telegram by individuals posing as official TikTok representatives. They are instructed to deposit funds into sham cryptocurrency wallets and shown fabricated earnings statements promising commissions that never materialize.
SentinelLABS recently revealed that previously established YouTube channels – initially used for tech or cryptocurrency content – are now being exploited to promote a scam. Want to know how? Get the complete details here.