Facebook scam using Sydney Morning Herald brand to promote crypto fraud

The Sydney Morning Herald’s website layout and branding have been replicated by criminals to spread fake articles on Facebook and dupe people into investing in fraudulent financial schemes.

Truck driver John McSorley was one of many people who have been targeted by the false articles circulated on social media, that use this reporter’s name.

McSorley was unemployed earlier this year and looking for extra money when he noticed an article on Facebook which purported to be published by the Herald.

“Former Bank Employee Leaks Secret How Aussies Can Get Rich In a Matter of Months (Banks Are Furious),” was the headline.

The article promoted a scheme called the “Profit Trader” system, that claimed to use “artificial intelligence algorithms and machine learning to accurately predict when the cryptocurrency rate will rise and fall”.

Reader comments appeared to show happy customers, posting “worked for me!” and “From $250 to 14,500 in 8 trading days. Signed up and keep the train rolling.”

McSorley had never invested before, but trusted the news title. He transferred $US250 ($351) and, a few days later, was contacted by a man posing as a financial adviser.

The man on the phone asked for access to McSorley’s computer, which he denied. “He became very angry. I told him I wasn’t going to give him access and I didn’t see why he needed access. He ended up hanging up on me and we haven’t spoken since.”

In search of answers, McSorley contacted this reporter only to discover the scheme was a scam. More than a dozen others have also made contact to check the authenticity of the article.