ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Facebook Hit by Another Scam as Hackers Exploit Profiles to Sell Fake Products

Facebook users, including a retired firefighter, face a new hacking trend where scammers hijack accounts to sell nonexistent items, victimizing friends.
PUBLISHED FEB 4, 2024
Cover Image Source: The Facebook logo is seen on the screen of an iPhone | Getty Images | Photo by Chesnot
Cover Image Source: The Facebook logo is seen on the screen of an iPhone | Getty Images | Photo by Chesnot
A person holds an iPhone displaying the Facebook app logo | Getty Images | Photo by Carl Court
A person holds an iPhone displaying the Facebook app logo | Getty Images | Photo by Carl Court

Facebook users are falling prey to a new hacking scheme where scammers exploit compromised accounts to sell fake items. Recently, a deceased veteran's Facebook profile was used for siphoning off money from unsuspecting victims by manipulating their sentiments. But in another case, the victim managed to put a stop to the scam with the assistance of investigative reporters. Pete Gagliardo, a retired firefighter, found himself at the center of a distressing Facebook hack, where scammers took control of his account to orchestrate a fraudulent scheme. Friends and acquaintances believed they were purchasing items such as concert tickets and memorabilia from Gagliardo, but later realized they had fallen prey to a sophisticated scam.

The scammers meticulously impersonated Gagliardo, using direct messages curated from his online posts to deceive friends into making payments for non-existent items. The victims, scattered from Florida to Putnam Lake, were tricked into buying items ranging from concert tickets to tractors, believing that they were supporting Gagliardo's purported transactions. Gagliardo was locked out of his account and reported the incident to Facebook on Christmas but was met with a staggering six-month wait time for assistance. With three billion users worldwide, the social media giant's delayed response left Gagliardo and others exposed to the scammers' deceptive activities.

Computer hacker silhouette. Green binary code background | Getty Images | Photo by Bill Hinton
Computer hacker silhouette. Green binary code background | Getty Images | Photo by Bill Hinton

The scam doesn't spare celebrities either, as Vincent Curatolo, known for his role in "The Sopranos," was also targeted by the fraudulent scheme on Facebook. Impostors exploited Curatolo's identity on the social media platform, and lured strangers to show up at his doorstep seeking signed memorabilia, acting lessons, and shoutouts they had paid for to the imposter.

Users are urged to be vigilant for signs of a hack, including notices about changes to email, password, or birthday details, friend requests and messages from strangers that weren't initiated by the user, and posts that they did not create. Panic-stricken by the fraudulent activities on his account, Gagliardo sought the assistance of an investigative news outlet, who reached out to Meta, Facebook's parent company. The news outlet requested immediate action to stop the ongoing scam and thanks to this intervention, Gagliardo regained control of his account within hours.

To enhance security on social media platforms, users are advised to watch for payment recipient changes, report hacks promptly, and request friends and family to post warnings about suspected scams. In this particular scheme, all victims were asked to send money to individuals who were not the legitimate account owners. While the efforts of investigative reporters successfully halted the scam, efforts are ongoing to secure refunds for the victims who fell prey to the deceptive transactions orchestrated by the hackers. As per reports, cybercriminal enterprise is expanding, constituting a multibillion-dollar industry, potentially ranking as the world's third-largest economy after the United States and China. This Facebook hacking incident underscores the increasing sophistication of cyber threats on social media platforms, emphasizing the need for users to remain vigilant and take immediate action when suspicious activities arise.

MORE ON MARKET REALIST
The company has said that this was a way they were looking at to improve delivery service.
6 hours ago
There is a chance that the administration can utilize certain legal pathways to keep the tariffs.
6 hours ago
The hilarious round saw host Steve Harvey shocked into silence on a few occasions.
6 hours ago
Ramsey offered insights into how millionaire couples build wealth.
8 hours ago
Many have stood with the President in support of the move but there are some naysayers.
10 hours ago
Scammers are getting smarter by the day and one always needs to be wary about them.
12 hours ago
She did her best but her choice of letters was not good enough.
1 day ago
Shoppers are urged to be wary of the product and throw them away if purchased.
1 day ago
Despite their point of difference, both masters of trivia have a lot of respect for one another.
1 day ago
The product in question contained peanuts, a known allergen, and was mislabeled.
1 day ago
In an interview, Pichai stated that organizations will need to work through the disruption.
1 day ago
The money from the donation will go to millions of children and will help them be financially secure.
1 day ago
Kiyosaki urged people to invest in precious metals and cryptocurrency to be prepared.
2 days ago
She's not made a lot of public appearances since her mammoth win on the show.
2 days ago
Despite the cancellation of its contract, Musk believes that DOGE was on the right track.
2 days ago
Hundreds of shoppers waited in line overnight in the cold, only to be left utterly disappointed.
2 days ago
Speaking to CNN, Yang talked about how AI will impact communities and what could be the solution
2 days ago
The move has been hailed by those who already own houses, but those who do not will be in trouble.
2 days ago
Many believe that the cost of a college degree is a debt they'd want to bear for years to come.
3 days ago
Tim Wu, a Columbia Law School professor, says companies are trying to find power over people.
3 days ago