Scammers Spend Google Ads to Steal Almost $60 Million

Reading Time: 2 minutes

• A report has disclosed that scammers are the utilization of Google ads to steal cryptocurrency
• The scammers enjoy extinct this methodology to steal nearly $60 million in 9 months
• They are the utilization of pockets draining carrier MS Drainer to siphon funds

Malicious actors enjoy modified into to Google ads to lift their potentialities of stealing cryptocurrencies from unsuspecting folks. According to a report by Scam Sniffer, scammers the utilization of pockets-draining carrier MS Drainer enjoy pocketed nearly $60 million by the utilization of Google ads and spoofing popular websites to camouflage their actions. The scammers steer obvious of detection by Google by the utilization of tricks admire page-switching, a impress that malicious actors are getting refined in their craft.

60% are Phishing Ads

In an X (previously Twitter) thread, blockchain security platform Scam Sniffer moreover indicated that MS Drainer customers prefer running ads on X, noting that they started following the scammers’ path in March.

🚨1/ Alert: A ‘Pockets Drainer’ has been linked to phishing campaigns on Google search and X ads, draining roughly $58M from over 63K victims in 9 months. pic.twitter.com/ye3ob2uTtz

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) December 21, 2023

The blockchain security platform chanced on that the malicious actors exhaust erroneous websites of Lido, Stargate, Zapper and varied popular crypto and blockchain projects within the ads to camouflage their phishing intentions.

Scam Sniffer printed that 60% of 9 phishing ads on X had been linked to scammers the utilization of the pockets-draining carrier with some searching for to steal profit of Bitcoin Ordinals’ status. Their efforts enjoy netted them $58.98 million from extra than 63,000 victims since March. They’ve deployed over 10,000 phishing websites with Can also, June and November being their busiest months so a ways.

Inferno Drainer Shuts Down

The revelations reach roughly a month after but some other pockets drainer, Inferno Drainer, announced that it’s completely shutting down. Inferno Drainer customers are estimated to enjoy siphoned roughly $70 million from the web3 build of living since January 2023.

It moreover comes quickly after but some other report disclosed that scammers are misusing exact blockchain code to steal funds.

Even supposing the scammers’ tricks continue to be chanced on, it’s seemingly they’ll moreover continue exploring fresh ways to steal funds.