Scammers Steal $3M in Crypto in 24 Hours Using Google Ads: Scam Sniffer Report
Summary:
Scammers have stolen $3 million in cryptocurrencies within 24 hours by advertising fraudulent websites with wallet-draining software via Google Ads, according to Scam Sniffer. This follows an incident in 2023 where scammers stole $59 million worth of crypto using a similar method. Scam Sniffer informed Google Ads' security about these scams in April 2023, but has not yet received a response. The scams have sparked reminders for crypto users to verify the authenticity of websites and transactions authorized by their Web3 wallets.
Crooks have successfully pilfered cryptocurrencies valued at $3 million within a span of 24 hours by utilizing Google Ads to market fraudulent websites that employ wallet-siphoning software. Cointelegraph reported that these fraudsters made use of the MS Drainer tool to abscond with cryptocurrencies worth $59 million in 2023. Scam Sniffer reported that these cyber felons exploited Google Ads as a ploy to hoodwink crypto users into visiting counterfeit iterations of Web3 sites such as Zapper, Lido, Stargate, DefiLlama, Orbiter Finance, and Radient.
Records of recent foul play from associated phishing sites connected to the cyber attackers' addresses were catalogued in their scam log on Dec. 25 by the security firm. Yet another user of cryptocurrency was deprived of aEthWBTC worth $880k due to phishing trickery just 11 minutes ago according to Scam Sniffer.
Scam Sniffer further substantiated the loss of around $3 million to Cointelegraph due to phishing ploys on Christmas Day. The cryptocurrencies pilfered included a blend of WBTC, aPolUSDT, aUSDC, and USDT, the evidence of which was supplied through screenshot by the said company. Google Ads security was notified about the ongoing sham sites and the deployment of wallet-siphoning software back in April 2023, as per a representative from the company. They, however, have not received a response from the platform so far.
Latest swindlings involving phishing exemplify the need for cryptocurrency users to ensure the credibility of their transaction related websites and the transactions authorized by their Web3 wallets. The gravest menace facing users at present is phishing scams," said a spokesperson from Scam Sniffer. The spokesperson further suggested that the only preventive measure for users could be to validate every single signature request with utmost caution.
Scam Sniffer discovered 10,072 forged websites exploiting the MS Drainer tool in its latest examination of the wallet siphoning software. The software has been deployed to rob cryptocurrencies equal to $58.98 million from over 63,000 unsuspecting victims. This was confirmed by a Dune Analytics Dashboard constituted to monitor the same.
Published At
12/26/2023 3:46:28 PM
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