Recently, the use of Cryptocurrency has gained an insane amount of popularity in different countries. However, this popularity has also attracted numerous malicious entities like scammers that will stop at nothing to steal your precious savings.
According to research, an estimated $500,000 worth of cryptocurrencies were stolen by unknown scammers in just a few days. Scammers were observed to be weightage Google Ads to steal cryptocurrency wallets. The scammers were also seen by researchers putting Google Ads that impersonate famous platforms and wallets on the first searches of Google Search. The impersonated ads consist of malicious links, which would redirect victims to a developed phishing site.
Up to this date, eleven accounts have been infected, having funds between a thousand dollars and $10,000.
Because of the recent scamming incidents, emails, as of now, is not the only primary way for phishing attempts. The new trend among scammers is to place bids on wallet-related keywords and descriptions on Google Ads so that they can be used as a phishing vector when someone clicks their ads on Google Search.
There are notable recent cryptocurrency scamming events worth millions
Recently, DeFi platform bZx mislaid over $50 million in multiple cryptocurrencies after a phishing attack victimised a developer. The team wallet has experienced about 25% of the losses.
Malicious threat actors have been seen requesting money from unaware targets to pay via compromised QR codes. The FBI announced a statement that warns against fraud schemes used by scammers involving crypto QR codes and ATMs. They also added that because of these scams, recovering their stolen money will be very difficult.
Law enforcement will not let these scams go unnoticed.
Law enforcement agencies have initiated disciplined actions against cyber threat actors, as evident from the recent ransomware group shutdowns.
However, they said that to mitigate the cryptocurrency thievery, they need to enforce strict laws and punish sanctions against these scammers to ensure they will not be a repeating offender.
All ends should end well.
Please make no mistake, but malicious threat actors will constantly develop new scam methods to scam users and potentially steal their cryptocurrency savings. Law enforcement agencies and IT firms are always urging users to be more careful in navigating through the vast world of the internet.
