In the latest wave of cybercrime, cryptocurrency users have lost more than $4 million in funds to crypto criminals. Many thefts were carried out through phishing sites advertised on Google Ads.
These fraudulent websites mimicked legitimate crypto platforms to trick unsuspecting users into entering their login credentials, private keys, or other sensitive information.
Once the criminals obtained this information, they could access the users’ cryptocurrency wallets and steal their digital assets. ScamSniffer, an anti-scam service provider for Web3, has recently reported many malicious advertisements for phishing websites on Google ads searches.
Over the previous month, scammers saw a 276% profit from their illegal activities due to the number of users impacted and the money they used to promote their fraudulent advertisements.
These bad actors have impacted several decentralized finance protocols, websites, and brands, including DefiLlama, Lido, Orbiter Finance, Radiant, Stargate, and Zapper. Scammers have targeted DeFi users who find it challenging to identify that they have clicked on malicious links due to slight changes to the official URLs.
ScamSniffer mentioned:
When you open a malicious advertisement from Zapper, you can see that it attempts to obtain authorization of my $SUDO by using a Permit signature. Currently, many wallets do…
