Another Russian-based Cybercrime scam is uncovered that assists the hackers to steal more than $6.5 million from customers situated across the United States, Europe, and other countries.

According to the reports, the security firm named Group-IB has revealed this operation and named it Classiscam which is further described as Scam-as-a-Service.

This Classical started in early 2019 and it is designed to target only active buyers who use the Russian online marketplace and classified ads portals.

After this, the group is further expanded widely and in previous years the Classiscam started to recruit new scammers who may be used to target foreign customers.

Currently, this group is activated in dozens of countries and on several marketplaces, now they are also capable to affect courier services such as OLX, Allegro, DHL, Sbazar, FAN Courier, and many others.

Now, the question rises how the scammers conduct this widespread scam!

Working of Classiscam

This entire scam is working as similar scams it is auto-adapted according to the site and it works under publishing ads listed on the online marketplace.

These ads are generally offered laptops, cameras, gaming consoles, smartphones, and other items available at low cost. As the user are interested and contact to scammer the attackers requested the victims to provide the details for sending the products.

The attackers also used the Telegram bot while creating the phishing page that is the same as the original page. Then the scammer sends a link to the buyers, that is asking about the payment details, as the users provided their payment details the scammers use the user data and purchase the other products from genuine sites.

According to researchers, more than 40 groups are activated today and the entire work is well planned from the top admin level, followed by workers and callers.

The responsibilities of all the scammers are equally divided from top to bottom. Workers are the people who interacted with victims directly and doing most of the work like generating phishing links and make payments whereas callers had to play the smallest part, they are working as support and they are responsible for having conversations with victims to ensure that the entire transition is valid.

According to experts, these scams run of the Russian sites and the other half is executing over different countries like Bulgaria, Czech Republic, France, Poland, United States, Romania, and many others.

The researchers also said that more than 5000 users are working as scammers, whereas the security firms said that each group makes around $61000 per month and the whole Classiscam operation makes around $522000 per month approximately.

The Head of Group-IB said that these scams are rapidly growing and they are expanding in Europe but may be hindered by language barriers and also facing many difficulties while stealing the money. As these scammers will overcome these barriers, then they will be able to spread in Europe.

Many security agencies were investigating this case but they found nothing yet. The investigation is under process and the scammers will be caught soon.