Infoblox Threat Intel has released details exposing the VexTrio threat group as a global business enterprise involved in large-scale ad-fraud activity.
Previously categorised as a major participant in malicious traffic distribution systems, VexTrio is now understood to be a complex multinational corporate entity with a network of nearly 100 companies spanning the adtech, energy and construction sectors. The network reportedly underpins an ad-fraud scheme valued in the billions.
Criminal structure
The investigation by Infoblox Threat Intel outlines that VexTrio is not merely an assembly of hackers, but a merger of Italian and Eastern European criminal groups. They use a structural network of businesses to obfuscate fraudulent activities. Named executives run operations which, according to the findings, have persisted for more than a decade.
VexTrio is described as managing a comprehensive scam supply chain, controlling all elements from the creation of fraudulent applications to the operation of payment processors that collect illicit proceeds. Prominent adtech brands within the network, including Los Pollos, TacoLoco, and Adtrafico, function as outwardly legitimate affiliate marketing platforms while, in reality, serving the group’s criminal operations.
“For years, we thought that VexTrio was just a group of basement hackers,” said Dr. Renée Burton, Vice President of Infoblox Threat Intel. “This investigation proves that behind the malicious links is a highly organised, multinational corporate entity that has been profiting from fraud on a massive scale. They have built an entire adtech industry to conceal their crimes in plain sight.”
International reach
Infoblox reports that VexTrio’s reach is substantial. In 2024, their affiliate network Los Pollos reported more than 2 billion unique users each month. GoDaddy, reviewing compromised websites, found that around 40 percent were redirecting traffic to VexTrio. Additionally, one of the group’s core Content Delivery Network domains ranks among the world’s top 10,000 most visited domains.
The breadth of control extends to fraudulent product development, encompassing fake dating platforms, eCommerce portals and cryptocurrency investment websites. VexTrio operates its own payment processing and runs email validation services, enabling high-volume spam campaigns used to direct new victims into their schemes.
Financial incentives and technical setup
According to Infoblox, affiliates operating through VexTrio’s network are offered incentives surpassing USD $100 per lead for fraudulent antivirus products. Some schemes, such as “blank credit card” scams, are promoted with claims of returns in the six-figure range and up to 300 percent return on investment.
The underlying infrastructure supporting the network is described as efficient and advanced. Despite its scale, VexTrio reportedly runs fewer than 250 virtual machines globally, employing automated tools and leveraging multiple hosting and legitimate Content Delivery Network providers to avoid detection and ensure ongoing operations. This technical approach enables the group to remain both resilient and difficult to track.
Business fronts and adtech complicity
Central to VexTrio’s evasion tactics is its use of shell companies and the portrayal of its businesses as reputable adtech providers. The investigation highlights that these companies operate under several brands in the affiliate marketing space, while simultaneously conducting various forms of fraud.
The report by Infoblox suggests that adtech industry platforms facilitate the expansion of cybercrime at scale. The research further notes that affiliate networks such as Los Pollos, TacoLoco, and Adtrafico not only increase the syndicate’s reach but represent potential points of exposure. As these networks track affiliate activities, they hold intelligence capable of identifying those responsible for website compromises and widespread defrauding of internet users.
Researchers argue that these findings underscore the need for increased accountability and transparency in the adtech sector. The examples of compromised affiliates and fraudulent affiliate marketing tactics are presented as risks to internet safety and business integrity worldwide.