Ddos 
Image: RedHunt Labs
Threat intelligence researchers at RedHunt Labs have uncovered a sprawling network of AI-driven scams on Facebook and Instagram, where fraudsters use deepfakes, counterfeit news sites, and fake celebrity endorsements to lure Indian users into fraudulent investment schemes.
According to the report, “A new wave of AI-powered investment scams is targeting Indian users on Facebook and Instagram, luring them with fake celebrity endorsements and deepfake interviews.” Celebrities including Nirmala Sitharaman, Sadhguru, and Neha Kakkar were featured in manipulated videos and articles claiming to reveal their “secret to wealth.”
The fraudsters employ generative AI to create highly convincing fake media: “Scammers use AI-powered tools to clone a person’s voice… [and] alter real interview footage or news clips… creating a seamless and highly believable video where a trusted figure appears to make an endorsement or announcement they never did.”
Victims are directed to websites designed to mimic India’s most trusted news outlets. RedHunt Labs explains: “Ads featuring figures… direct users to counterfeit news websites mimicking The Times of India, IndiaTime, and NDTV.” These sites publish standardized fake interviews, with fabricated testimonials and urgent calls to action urging readers to invest quickly.
The deception goes beyond just look-alike articles: “Fake user testimonials and comments claim rapid earnings, purchases, and successful withdrawals to create social proof and convince readers that the scam platform is legitimate.”
The campaigns thrive by abusing Meta’s ad ecosystem. RedHunt Labs observed that, “Fraudsters exploit Facebook’s ad review system, using short-lived campaigns, deceptive links, and AI-generated content to evade detection.”
Among the tactics:
- Ads often show Amazon.in links, which redirect victims to scam sites.
- Ad campaigns are short-lived (10–12 hours) before being replaced.
- Hijacked advertiser accounts once used for legitimate travel content are repurposed for fraud.
Through WHOIS data and infrastructure analysis, researchers found: “A significant cluster of these scam domains were registered within a short window in a coordinated effort… scammers are maintaining a pool of active domains and regularly switch between those domains to ensure uninterrupted operation.”
By pivoting across domains and hosting data, RedHunt Labs uncovered a network of more than 1,000 interconnected fraudulent websites serving victims across India and Southeast Asia.
The scale of losses is huge. RedHunt Labs points out: “63,000 investment scams were reported in India in just four months of 2024. Victims are suffering huge financial losses, with 48% losing over ₹50,000. In a recent case, a woman from Faridabad lost ₹7 crore to a similar scam.”
The scammers diversify their reach beyond social media. The report notes: “We found fake trading bots being promoted through impersonated Medium blog pages… multiple legitimate websites… were compromised and injected with malicious HTML code.” In addition, fraudsters employ SEO manipulation with fake YouTube videos, Reddit discussions, doctored screenshots, and keyword hijacking to push their scams higher on Google.
With AI deepfakes being used to fabricate endorsements from politicians, spiritual leaders, and celebrities, India’s digital population faces a new wave of AI-powered financial fraud that blends social engineering with cutting-edge generative technology.
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