Scammers ran AI investment fraud ads on Reddit using deepfakes and cloned news sites
Cybersecurity researchers reportedly identified a campaign of sponsored ads on Reddit impersonating news outlets like the BBC and the Financial Times to promote fake AI investment platforms, using deepfake video segments, cloned websites, and fabricated testimonials to deceive users.
What happened
Scammers ran sponsored ads on Reddit impersonating major news outlets including the BBC, the Financial Times, and The Guardian, according to research from cybersecurity firm Bitdefender Labs.
The campaign promoted fictitious AI-powered investment platforms such as Wencoin STX, Warrior Coin AI, and Nevo Coin, redirecting users to cloned news websites with fabricated articles, invented testimonials, and fake profit screenshots.
Some ads appeared as video content, with a deepfake BBC news segment featuring a fabricated anchor delivering invented financial headlines, accompanied by footage of political figures and references to international summits.
Reported impact
Users who submitted contact details to the scam pages were told a personal advisor would follow up within 24 hours.
Index analysis
The scam pages used high-pressure tactics including countdown timers, claims of limited registration spots, and conspiracy narratives suggesting banks and governments were suppressing access to the platforms.
Domains were short-lived and rapidly rotated to evade detection, with infrastructure and tactics bearing strong structural similarities to a Meta-based investment fraud network documented in March 2026.
Governance controls
Reddit stated that its Ad Policies prohibit deceptive, untrue, or misleading advertisements, and that its Ad Review teams leverage human review and automated tooling to identify and reject such content.
Reddit brought on a third-party vendor to validate the authenticity of ads on Reddit, ensuring goods, services and claims made in ads are verifiable.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.