Scammers use Google Ads to siphon off hundreds of thousands of dollars from fake crypto wallets

Illustration by Maria Chimishkyan

The crypto world is full of dangers, with scammers lying in wait for newbies and novices. A recent report from security outfit Check Point Research highlights a potent form of attack: using Google Ads to direct users to fake crypto wallets. In its report, CPR said it has seen roughly half a million dollars siphoned off through these methods in just the last few days.

Here’s how the scam works. Attacker buys Google Ads in response to searches for popular crypto wallets (that’s the software used to store cryptocurrency, NFTs, and the like). CPR says it’s noticed scams targeting Phantom and MetaMask wallets, which are the most popular wallets for the Solana and Ethereum ecosystems.

The scam is a fairly typical phishing attack

When an…

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