New Scam Method Drains Bank Accounts via TikTok and Instagram Videos

You need to be cautious when scrolling through videos on TikTok or Instagram Reels. Research from ReversingLabs has revealed that some videos contain scams capable of draining your bank account.

The report indicates that fraudsters are no longer relying solely on phishing messages sent via email or text. Campaigns are now being conducted by disseminating videos on TikTok and Instagram Reels. The circulating videos offer free access to services such as Spotify Premium and Microsoft Word.

ReversingLabs researchers uncovered two campaigns used by the scammers. One employs fake tutorial accounts to mimic legitimate support. These accounts use names like ‘windows.tips’ or ‘windows.insight’, with blue and white profiles resembling the official Windows logo. The videos feature what appears to be AI-generated voiceovers, displaying instructions on how to access paid services for free.

However, these tips prove disastrous. The scammers use an information-stealing malware called VidarStealer to pilfer credentials, financial information, and tokens from victims. They only spend around US$300 (Rp 5.3 million) to gain access to the tool.

The second campaign identified by ReversingLabs involves trending short videos. Similar to the first, the videos demonstrate how to access premium software for free. The accounts spreading the videos appear to be ordinary users, but upon closer inspection, they are filled with similar videos promoting free access to various platforms.

The videos prompt users to ask questions in the comment section, including how to obtain free access. This engagement is exploited by replying with instructions that lead to malicious websites. Business Standard highlights the danger of this method, as the videos are produced very professionally. Users who like or save these videos can cause the platform’s algorithm to push the content, reaching even more users.