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- False exchange rate: how scammers speculate on the topic of currency exchange on the Web
False exchange rate: how scammers speculate on the topic of currency exchange on the Web
Fraudsters can use the topic of currency exchange on the Web to deceive Russians, experts have warned about this. This topic is attractive and highly profitable for intruders, whose networks include those who try to avoid banking formalities during legal exchange transactions. However, such attempts result in loss of funds and leakage of personal data. Read the details in the Izvestia article.
Why is the topic of currency exchange on the Web interesting to scammers
Online currency exchange is an attractive niche with high profitability for cybercriminals, says Maria Mikhailova, head of the Angara MTDR brand protection group, in an interview with Izvestia. Legal exchange transactions conducted by financial organizations require identification, and in some cases, the bank may request information about the origin of funds.
— This pushes users to switch to informal, "convenient" financial services, — says the expert. — However, after transferring funds through such unofficial channels, it is almost impossible to withdraw the payment, which minimizes the risks for intruders.
Currency exchange is always an area of high demand, especially during periods of exchange rate volatility and restrictions on cross—border transactions, adds Alexander Vinokurov, technical account manager at R-Vision. People tend to fix the "profitable course" and are ready to make quick decisions, which reduces the criticality of risk perception.
This is an ideal environment for scammers: money is transferred voluntarily, often in a hurry and beyond bank control. In addition, users are increasingly switching to messengers and informal channels where there is no strict identification. This makes it easier for attackers to maintain their anonymity, withdraw funds, and quickly "restart" schemes under a new account or brand.
What currency exchange schemes can we expect from scammers in 2026
In 2026, we should expect the appearance of more fake exchangers and bots in messengers that promise a profitable exchange rate and fast transfer, says Anna Vyatkina, an analyst at the Positive Technologies research group, in an interview with Izvestia. There may also be fake websites that are almost indistinguishable from the real ones, and schemes where communication is specifically diverted from official services to private messages, the main purpose of which is to convince a person to transfer money outside a secure site.
"In addition, it is possible to use deepfakes and artificial intelligence (AI) technologies to create fake user reviews and expert recommendations to increase confidence in fraudulent services," the expert predicts.
Attackers can also use AI to create fake websites of financial organizations that will be almost impossible to distinguish from the real ones, adds Alexandra Shmigirilova, GR director of the Security Code information security company. Also, thanks to technology, they will be able to generate convincing fake checks and documents purporting to confirm the legality of the exchange. Since most financial transactions are now conducted online through banking applications, such schemes are becoming part of the overall risks of the digital environment.
In 2026, it is likely to strengthen schemes with fake online exchangers, Telegram bots and clone sites of well-known banks and services, Alexander Vinokurov points out. Employers will be offered a "better course than the market", accompany the process with fake receipts and "personal managers", as well as use advertising and SEO to promote such sites.
"A separate trend is combined schemes with cryptocurrency, when funds are diverted to uncontrolled wallets under the guise of "circumventing restrictions," the expert notes. — It is also possible to more actively personalize attacks using data leaks and deepfake elements to increase trust.
What schemes of scammers on the topic of currency exchange have previously been encountered on the Web
According to experts interviewed by Izvestia, the attackers had tried to speculate on the topic of currency exchange online before. At the same time, as noted by Kaspersky Lab cybersecurity expert Olga Altukhova, the use of Telegram bots in such schemes has become more common since 2023.
"Earlier, we saw a scheme in which, after applying for currency exchange through a Telegram bot, victims were asked to transfer money not to a legal entity, but to an individual by phone number," says the specialist. — Hackers use Telegram bots to implement fraudulent schemes, because it is a convenient tool for automating their actions: it is easy to collect information and you do not need to create a separate website.
In the spring of 2025, scammers searched for their victims manually, meeting people in open chats in the old-fashioned way, adds Maria Mikhailova, head of the Angara MTDR brand protection group. In some cases, fraudsters organized offline meetings for currency exchange, while the victims were physically abused and deprived of funds. In addition, the services of fake lawyers, "specialists" in the refund of funds, appeared on social networks and the Telegram messenger.
According to Maria Mikhailova, such schemes are primarily aimed at tourists and citizens looking for a profitable exchange rate. The main risk is the loss of finances. After transferring money through a bot belonging to an unofficial exchanger, the user loses the opportunity to challenge the operation. Such transfers are not protected, for example, by banking mechanisms, the expert warns.
"In addition to financial resources, users transfer their personal data to intruders,— warns Maria Mikhailova. — Collectively, this information can be used for subsequent fraudulent transactions. Finally, when accepting and then transferring other people's money, victims risk unintentionally participating in a criminal scheme to transfer stolen funds, which entails account blocking and criminal liability.
How to protect yourself from currency exchange fraud schemes
In order to protect themselves from fraudulent online currency exchange schemes, it is important for users to follow the basic rules of digital security and always carefully conduct any financial transactions online. It is worth using only official banks and proven services that have been on the market for a long time, advises Anna Vyatkina.
— Avoid any transactions in messengers, — Maria Mikhailova urges. — Remember that one of the signs of fraud is a significant difference in the exchange rate compared to the established official rates of the Bank of Russia or the rates at other exchange offices.
To protect against fraud, you should not use the services of unknown people who offer assistance in currency exchange in messenger chats and social networks or are looking for those who are willing to provide them with such services, the expert notes. Scammers often use such methods when searching for new victims. In turn, Anna Vyatkina points out that when using Telegram bots, you should not provide them with personal information, especially financial information.
It is also necessary to be suspicious of links to third-party resources, even if they were sent by friends. At the same time, whatever service you decide to use for currency exchange, pay attention to user reviews and study negative comments, advises Olga Altukhova. If you have any suspicions, it is better to use another service, but always check whether it provides guarantees and checks.
— You should be wary if the service was launched very recently — for example, the domain is less than a month old. And don't forget to use a reliable security solution that will warn you about an attempt to switch to a phishing or scam resource," the expert concludes.
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