ScamSniffer, a web3 anti-scam service provider, has revealed that over $4 million has been stolen from cryptocurrency users worldwide through phishing websites promoted on Google.
ScamSniffer, a web3 anti-scam service provider, has revealed that over $4 million has been stolen from cryptocurrency users worldwide through phishing websites promoted on Google. The service provider utilized data from Google Ads and blockchain analytic data to determine the alarming figure.
1/A recent surge in phishing scams via Google search ads has led to users losing approximately $4 million.
ScamSniffer has investigated multiple cases where users clicked on malicious ads and were directed to fraudulent websites.#PhishingScams #GoogleAds pic.twitter.com/vuKCgSuFnV— Scam Sniffer (@realScamSniffer) April 27, 2023
These scams affected users of several DeFi protocols, websites, and companies, such as Lido, Stargate, Defillama, Orbiter Finance, and Radiant. The scammers often alter official URLs slightly, making it difficult for users to distinguish between legitimate and fraudulent links. ScamSniffer attributed most of these phishing websites to advertisers in Canada and Ukraine.
Based on on-chain data analysis, ScamSniffer estimated that over the past month, more than 3,000 consumers had lost $4.16 million through these fraudulent schemes. The anti-scam service provider tracked on-chain money transfers to exchanges and mixing platforms like SimpleSwap, Tornado Cash, KuCoin, and Binance.
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