In a significant cybersecurity breach, scammers have reportedly stolen $3 million in cryptocurrencies within a 24-hour period, exploiting Google Ads to direct users to malicious, fake Web3 websites equipped with wallet-draining software.
Cointelegraph reported on December 21 that scammers have been using a tool known as MS Drainer to orchestrate these thefts. Throughout 2023, this method has led to the theft of approximately $59 million in cryptocurrencies. Scam Sniffer, a security firm, identified that these attackers have been using Google Ads to lure crypto users to counterfeit versions of popular Web3 sites like Zapper, Lido, Stargate, DefiLlama, Orbiter Finance, and Radient.
On December 25, Scam Sniffer detected new phishing activities linked to the same attackers, as identified in their scam database. The firm confirmed to Cointelegraph that about $3 million was lost to these phishing scams on Christmas Day alone. The stolen assets included a mix of WBTC, aPolUSDT, aUSDC, and USDT, as evidenced by screenshots provided by the company.
Despite informing Google Ads security about the promotion of these fake sites and the use of wallet-draining software as early as April 2023, Scam Sniffer has yet to receive a response from the platform.
This recent spate of phishing attacks serves as a stark warning to cryptocurrency users about the importance of verifying the legitimacy of websites and the transactions authorized through their Web3 wallets.
Scam Sniffer’s spokesperson emphasized that phishing scams currently pose the greatest threat to users. The best defense, they advise, is for users to meticulously verify each signature request.
In their latest report, Scam Sniffer revealed that they had identified 10,072 fake sites utilizing MS Drainer throughout 2023. This software has been responsible for siphoning off $58.98 million worth of crypto from over 63,000 victims, as tracked by a Dune Analytics dashboard dedicated to monitoring this activity. This situation underscores the growing need for heightened vigilance and security measures in the cryptocurrency space.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up