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 guest even dropped his cards and walked away in disbelief when he saw the board.
1 hour ago
Jennings did acknowledge that he was being too harsh, but also said it didn't affect the outcome.
3 hours ago
Fans believe that had the contestant taken the advice, they could have won a bigger prize.
5 hours ago
Richard Benjamin Harrison was beyond disappointed, and his reactions were hilarious throughout.
6 hours ago
While things went great for the founder Nikki Pope in the tank, her company couldn't keep up later.
7 hours ago
The legendary host has a history of theatre performances, and that seems to be one of his passions.
1 day ago
The idea might have seemed weird at first but every single shark loved how it tasted.
1 day ago
The shark seemed to have the time of his life and even threatened Kevin O'Leary with the flames.
1 day ago
Jennings is loved by fans of the show ever since he became one of its most dominant contestants.
2 days ago
The founder didn't budge even an inch from the valuation that she found to be accurate.
2 days ago
The player later confessed that he went blank and gave the wrong answer.
2 days ago
She had no idea who the painter was and what it might be worth, so her shock was understandable.
2 days ago
She knew the answer long before the timer started ticking down and won a massive chunk of money.
2 days ago
The contestant made several errors while playing one of the show's most time-sensitive games.
3 days ago
Ari Siegel started 'History by Mail' in 2019 after witnessing a powerful historic document in the Library of Congress.
3 days ago
Her name isn't usually mentioned on the show for obvious reasons, so this was a rarity.
3 days ago
The car was an infamous piece of hip-hop history and could fetch big money at auctions.
3 days ago
The iconic action movie had a dialogue that had a reference to the show popular back then as well.
3 days ago
Cuban kept resisting a joint deal, but then all other sharks decided to give him a higher share.
3 days ago
The insider account contradicts a statement that Bialik had released regarding her exit.
3 days ago