Beware of Google Ads ‘Phishing Attacks’: Over 60,000 Victims Lose $58 Million
Alarming Rise in Crypto Wallet Phishing Scams
A concerning report from the Web3 anti-fraud platform Scam Sniffer on December 21 reveals a significant surge in phishing attacks leading to substantial financial losses. Over the past year, attackers have successfully utilized DNS attacks and phishing emails, causing significant damage, particularly through Google recommended ads and social media platforms.
Google and X Ads: Hotspots for Phishing Scams
Scam Sniffer’s investigation highlights a hacker who, through Google ads and social media platform X’s advertising, swindled nearly $58 Million from 63,210 victims in just nine months. The report urges users to exercise caution when interacting with ads on these platforms.
Unfolding the Attack: Ledger’s Security Breach
Ledger, a prominent cryptocurrency cold wallet, fell victim to a security breach on December 14, leading to widespread compromise in the Web3 domain. Subsequent analysis by Scam Sniffer revealed the involvement of a specific wallet hacker in these phishing ads, who had been on their radar since March this year.
Further reading：Ledger’s New Security Measure: Halting Blind Signing on Dapps Until June 2024
The Staggering Impact: A 9-Month Scam Spree
Over the nine months of monitoring, Scam Sniffer identified more than 10,000 websites linked to this wallet hacker. The peak of these fraudulent activities occurred in May, June, and November. Among the victims, the largest suffered a loss exceeding $24 million, with the second-largest being close to $1.2 million.
Further reading：North Korean Hackers Unleash A New Wave of Cryptocurrency Heists: The Sinister Plot of the Lazarus Group
The Hacker’s Strategy: Evading Detection
The wallet hacker employed regional targeting and page-switching tactics to bypass ad platform reviews. They used redirection techniques to appear legitimate, disguising links to phishing sites as official domain names. This sophisticated approach made it easier for users to fall prey to these invasions.
The Hacker’s Market: Selling Malicious Services
Remarkably, Scam Sniffer discovered the hacker advertising their services on a forum. Unlike other wallet hackers who offer hosted services with a 20% fee, this group publicly sells their source code along with additional value-added services, such as extra payment for attacks using specific platforms like Blur.
The Importance of Vigilance Against Phishing Scams
Scam Sniffer warns that ads have become a crucial tool for online phishing scammers to siphon user funds. With targeted Google searches and specific user habits on platforms like X, attackers can pinpoint their audience, launching cost-effective, targeted attacks.
Further reading：Beware: Fake Ledger Wallet App on Microsoft Store Swindles $768K in Crypto!
Staying Alert and Protecting Your Assets
Users must remain vigilant against ads on all major internet platforms, including Google and X. Always double-check before signing any content to avoid financial losses from these increasingly sophisticated phishing scams.
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Keywords: Google Ads, Phishing Attacks, Wallet Drainer, Scam Sniffer, Cryptocurrency, Web3 Security, Ledger Breach, Cybersecurity, Online Fraud, Hacker Tactics, User Vigilance, Financial Loss, Data Protection, Crypto Wallets, Digital Threats
