A fake Threads website; a fake metaverse currency, and a scam selling followers for a fee; surely more scams to come.

Fresh from its official launch on 5 July, the new microblogging app from MetaThreads — is already being leveraged by scammers for phishing purposes.

Scammers have a non-existent web version of Thread and used it for phishing login credentials. Users who are not aware that there is no web version of Threads are deceived into entering their login credentials. Since Threads is linked to other META services, users may also face the risk of losing access to their Instagram and Facebook accounts. Not only does this pose privacy concerns such as identity theft and doxxing, but risks of financial loss are also heightened because businesses often use their Meta accounts for ad campaigns and other work involving payments.

Another phishing scam involving Threads is a fictitious service called Threads Coin, which claims to bridge the gap between the physical and digital worlds, specifically within the Metaverse. Users are convinced into purchasing this fake coin using Ethereum.

Finally, another fraudulent Thread exploit are services that purport to help people generate followers for free on a new social network. They are asked to opt for 10,000, 25,000, or 50,000 followers to be bought, and then asked to make payments, but eventually the victims never receive a promised prize or the purchased service. Furthermore, the fraudulent scheme encourages users to share the promotion with friends via SMS, unknowingly becoming tools for spreading the scam.

According to Olga Svistunova, Security Expert, Kaspersky, the firm disclosing the recent Thread threats:  “The prevalence of scams surrounding the Threads app serves as a stark reminder of the risks we face in the digital realm. Fraudsters spare no effort in compromising your personal and financial security. To safeguard ourselves, we must adopt a skeptical mindset, scrutinize suspicious activities, and prioritize cybersecurity measures. By staying cautious amidst the allure of trendy topics, we can fortify our defenses and navigate the digital landscape with confidence.”