A new scam has come into the news, where cybercriminals are utilizing Google Ads to loot cryptocurrency wallets. Below is full information on how this scam works.
How does a scam work?
Scammers put a Google Ad to appear foremost on any search query related to the crypto wallet. After a user clicks on that fraud link that seems like Google Ads, the user is navigated to a website that is a phishing website that looks the same as the original wallet website. This fake website now tries to steal the user's passphrase if they have a wallet and will provide you with a new passphrase for a new wallet. By both of these methods, they get access to the user's wallet and can steal the user's cryptocurrency.
A passphrase is a kind of security guard for your account, it works like two-factor authentication for a crypto wallet. In case, if it gets into the wrong hands then your account gets into trouble.
Here, are some tips to stay safe from all of this fraud:-
- Before clicking on any URL to check whether it contains a padlock symbol or not?
- Check out the extension icon. The extension will consist of an extension icon and a chrome extension URL near it. Extension must create the passphrase only and to understand whether it is an extension or not check out the browser URL.
- Users must not provide their passphrases to anyone as no one should ask for them. It is used again only when installing a new wallet.
- Ignore ads related to wallets, crypto trading and changing platforms. Look for the website, not the ad because they mislead users to get into a trap by a scammer.