Scammers target Google Ads, promote fake version of OTC crypto platform

It seems that Google Ads is once more advertising a fraudulent crypto website, which deceitfully leads users to a counterfeit phishing site designed to steal users’ cryptocurrency.

It appears that Google is reportedly placing advertisements for malicious crypto sites on its search engine once more, using Google Ads – a service enabling businesses to showcase ads across Google’s search results pages.

Based on a recent article from BleepingComputer, cybercriminals have discovered a method to advertise a bogus version of Whales Market, an OTC cryptocurrency platform for trading airdropped tokens. The phony version is being showcased as a sponsored ad at the top of Google search results. At present, has verified that Google is indeed displaying this deceptive version of Whales Market.

Scammers target Google Ads, promote fake version of OTC crypto platform

Although the search result shows a trustworthy-looking domain address for Whales Market, users are actually taken to the fraudulent [] or []s]. BleepingComputer reports that scammers have registered multiple domains intended for Whales Market, with at least one of them, [], currently inactive.

A false version of the Whales Market website, which looks authentic, is used to deceive users. This deceitful site convinces users to connect their digital wallets. Unfortunately, once linked, hidden scripts are activated, leading to the theft of cryptocurrency from unsuspecting victims’ digital wallets.

Recently, there have been several occurrences in which scammers have taken advantage of Google’s platform to advertise fake or fraudulent services. An instance of this involved a hacker who successfully tricked billionaire Mark Cuban into downloading a malicious version of MetaMask, leading to the loss of approximately $900,000 worth of cryptocurrency.

Unidentified individuals are responsible for the recent phishing campaign, but Google is taking action against scammers. In early April, the company filed a lawsuit against two Chinese nationals, Yunfeng Sun and Hongnam Cheung, for utilizing the Google Play store to deceive people into investing in fraudulent cryptocurrencies.

Over the last four years, Google revealed that it had shut down 87 suspicious apps connected to Sun and Cheung, without mentioning their names in the ongoing lawsuit. These apps, which had gained close to 100,000 downloads globally, were collectively discovered to be fraudulent.

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2024-04-19 11:29