Scammers are using Google Ads to fool people into opening trick websites and stealing their cryptocurrency holdings. A new report by Check Point Research (CPR) sounds the alarm against such ads, highlighting that hundreds of thousands of dollars worth of cryptocurrency has been taken from victims within this past weekend.
CPR shares screenshots of such ads being run on Google search. It mentions that the Google Ads by scammers redirect people to phishing websites that imitate popular crypto wallets. The bogus website then attempts to trick visitors into sharing their wallet passphrase and private key. Once the scammers get the credentials, they siphon off the holdings in that particular crypto wallet.
As per CPR, multiple scamming groups are involved in the practice. It states that the scammers bid for cryptocurrency wallet-related keywords on Google Ads. This allows them to make their fake website appear right on top of the Google search results for those terms. The “Ads” marker is there for distinction but many users can easily be fooled into clicking on the wrong link for the website.
(Image: Check Point Research)
Some of the keywords that CPR has highlighted include popular wallets like Phantom, MetaMask and Pancake Swap. As can be seen in the screenshots shared by CPR, the ads redirect to a phishing website named exactly like the original crypto wallet, except for the extension. While the official website of the digital wallet Phantom is phantom.app, the bogus website…