Cybersecurity experts believe Russian criminal gangs are behind a sophisticated scam campaign utilizing artificial intelligence-generated images and fake news articles to ensnare social media users. The adverts, which have been prevalent on X (formerly Twitter), falsely depict public figures in confrontational scenarios to promote fraudulent get-rich-quick investment schemes.
Recent campaigns have featured fabricated images of Reform UK leader Nigel Farage and Bank of England Governor Andrew Bailey seemingly engaged in a violent altercation during a BBC Question Time broadcast. These AI-generated visuals, though containing inconsistencies such as the presence of police in a studio setting or unusual facial injuries, were designed to be attention-grabbing. They were accompanied by clickbait captions and led users to fake BBC News websites.
The fake news articles, which mimicked legitimate news outlets, reported on the supposed confrontation and then promoted an AI-powered investment company, such as Garlenix. These articles claimed that the company would offer extraordinary returns on investments to cash-strapped individuals. However, Garlenix, which was reportedly set up only last month, has no prior online mentions and features fabricated testimonials.
Scammers employed tactics like countdown timers for registration deadlines and indicators of high page viewership to pressure potential victims into depositing an initial £250 on an unregulated offshore payment platform. They were promised thousands of pounds in returns within weeks. It remains unclear how many individuals have fallen victim to this fraud.
Cybersecurity firm Bitdefender has identified strong indicators of Russian-speaking operators behind these campaigns, noting a similar operation discovered on Facebook in February. This earlier scam involved hundreds of coordinated campaigns across multiple continents, using fabricated media narratives and exploiting emotional hooks to drive victims towards investment fraud.
While political themes are used as emotional bait, Bitdefender stated that there is no evidence of state sponsorship. "Based on the evidence we analysed, this campaign looks like a financially-motivated cybercrime operation, not a politically-motivated action," Bogdan Botezatu, Bitdefender's Senior Director of Threat Research & Reporting, told the Daily Mail. "Political themes are used because they work as emotional bait."
The perpetrators used a shared playbook to create similar fake news scenarios for at least 12 other European countries, as well as Australia and Turkey. These often involved fabricated confrontations with central bank officials or scandals involving politicians and celebrities.
Despite efforts to bypass social media platform controls, the scammers' Russian connections were detectable. The scam operates by directing users through sponsored posts to fake news sites, pushing them to register personal details with fraudulent trading platforms. Once contact information is obtained, pressure is applied to deposit funds, and fake online dashboards display fabricated profits to encourage further investment. Attempts to withdraw funds are impossible.
In addition to financial fraud, the scams also harvest personal data for future exploitation and use malvertising techniques to spread malware.
While X moderators have worked to shut down offending accounts, the scam has resurfaced on new profiles with different AI-generated images. Conservative MP George Freeman, a former technology minister, is advocating for legislation to criminalize the spread of malicious AI-generated content.
Experts emphasize that tech companies need to strengthen content moderation and that consumers should protect their personal information online and use software that can detect online dangers, as misinformation continues to pose a significant threat on social media platforms.