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 moment became unforgettable for audiences, and the presenter was appreciated for his recovery.
3 hours ago
Even without the raise, Oliver remains one of the top-paid faces on American television.
5 hours ago
The story resonated with thousands of fans who made sure to set things right for the hardworking man .
19 hours ago
After O'Leary and Rodriguez made offers, Cuban also joined Greiner to make an offer.
1 day ago
The Home Depot staffer requests the individual's tax-exempt number, which the individual declines.
1 day ago
She also called out Walmart after describing how she was feeling about wearing unwashed clothes.
2 days ago
Like any struggling young actor in the 80s, White was looking for any opportunity to appear on TV.
2 days ago
The man bought three tickets but left the last one at the counter and the man on the counter just checked it out of curiosity.
3 days ago
Perry's comments about splitting bills and the women being the breadwinner did not go down well with many.
3 days ago
The woman finally asked for help from a worker at Walmart and found out more alarming details.
4 days ago
Walmart worker confronts the return scammer, sparking a viral debate on ethical consumer behavior.
4 days ago
She was only offered $6,600 as a “goodwill gesture” for being the winner. 
5 days ago
The man from New Jersey bagged the reward when he was in the studio just as a member of the audience.
6 days ago
Viewers were left scrambling for an explanation until the glitch was fixed during a re-run later that year.
6 days ago
The person who originally listed the property later explained the logic behind the design.
6 days ago
Later, she finally found a way to get rid of the Tahoe after three years of paying $1,400 a month.
6 days ago
A study highlighted the alarming number of bacteria found on a large package from Amazon.
7 days ago
So far the recall hasn't been directly linked to the salmonella outbreak caused by eggs from another brand.
7 days ago
The employer was overwhelmed after learning about the struggles of his employees.
7 days ago
The video gained so much popularity that some users even advised Amazon that it could be their next commercial.
7 days ago