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Phishing For Private Wallet Keys On Google Ads -Breaking

by Mike Robinson

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Google Ads Phishing to Find Private Keys To Your Wallet
  • Google (NASDAQ) Ads are used for Phishing Campaigns
  • Nearly $500,000 has been stolen by hackers.
  • Cybercriminals have promoted fake wallets like Metamask or Phantom.

Social media is an open channel for sharing cryptocurrency products. Hackers are taking advantage of those inexperienced in digital norms and siphoning funds worth thousands of dollars after gaining access to users’ private keys.

Google, the hacker’s middleman

To prevent scammers from taking advantage of users, Google implemented a ban against cryptocurrency ads in 2018. Google declared that it will allow cryptocurrency wallets to display ads on the platform by 2021.

With Google offering access only to wallets, hackers have found a new way to extract users’ funds. A report by Check Point (NASDAQ:) Research highlights that hackers are running paid advertising and creating fake wallet look-alikes to obtain users’ private keys and exploit their wallets.

Paid advertisements are used by attackers to advertise popular wallets such as MetaMask, Phantom and others. But the URL domain name is different. Instead of the original “phantom.app,” hackers use “phantonn.app” which makes it very similar to the original. Although the site is an exact replica of the wallet’s original, it isn’t secure.

To The Flipside

  • Google won’t change its policy as they generate additional revenue from keyword bids.

CPR reports that hackers managed to steal at least $500,000 in paid advertisement methods within the last few days. More worrying is that hacking groups will try to leverage Google’s crypto wallet’s permission and increase their bids for keyword placements as more reports on Reddit and Twitter (NYSE:) address wallet phishing issues.

CPR advises users to check the wallet’s URL before clicking on the ad, as hacking methods have proven to be an effective way to steal users’ funds In addition, the group has also identified phishing activities directing users to fake decentralized exchanges such as Pancakeswap or where their private keys are revealed to bad actors.

Why you should care

The hacking method is critical, especially for newcomers in the crypto space, who don’t have the necessary technical understanding to spot problems in the promoted URLs.

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