Scammers use Google Ads to siphon off hundreds of thousands of dollars from fake crypto wallets

guest · Nov 4, 2021

Scammers use Google Ads to siphon off hundreds of thousands of dollars from fake crypto wallets
Phishing scams in my Google results? It’s more likely thank you think
November 4, 2021
https://www.theverge.com/2021/11/4/...let-phishing-scam-google-ads-phantom-metamask

The crypto world is full of dangers, with scammers lying in wait for newbies and novices. A recent report from security outfit Check Point Research highlights a potent form of attack: using Google Ads to direct users to fake crypto wallets. In its report, CPR said it has seen roughly half a million dollars siphoned off through these methods in just the last few days.

Here’s how the scam works. Attacker buys Google Ads in response to searches for popular crypto wallets (that’s the software used to store cryptocurrency, NFTs, and the like). CPR says it’s noticed scams targeting Phantom and MetaMask wallets, which are the most popular wallets for the Solana and Ethereum ecosystems.
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When an unsuspecting user Googles “phantom,” the Google Ad result (which appears above actual search results) directs them to a phishing website that looks like the real thing.

“I believe we’re at the advent of a new cyber crime trend, where scammers will use Google Search as a primary attack vector to reach crypto wallets, instead of traditionally phishing through email,” said CPR’s Oded Vanunu in a press statement.
The group offers a few words of wisdom for users hoping to avoid these pitfalls, including never clicking on Google Ads results but instead looking at search results, and always checking the URL of the site you’re visiting.
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Check Point Research: Scammers used Google Ads to Steal ~ $500k Worth of Cryptocurrency

Check Point Research (CPR) warns of scammers using Google Ads to steal crypto wallets, after seeing hundreds of thousands of dollars’ worth of cryptocurrency taken from victims this past weekend. Scammers are placing ads at the top of Google Search that imitate popular wallet brands, such as Phantom and MetaMask, to trick users into giving up their wallet passphrase and private key.

CPR estimates that over $500k worth of crypto was stolen in a matter of days

CPR shares screenshots of the malicous Google Ads and phishing websites that navigated victims into theft

CPR urges the crypto community to stay on high-alert, offering five safety tips for people on how to stay protected

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Scammers use Google Ads to siphon off hundreds of thousands of dollars from fake crypto wallets

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