Cryptocurrency Scams With Google Ads

Tanuja Thakur

Nov 18,2024
2 min read
17
656 Views

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.

STAY SAFE!

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.