Scammers Use Google Ads to Steal $4M in Cryptocurrencies, Warns Anti-Scam Platform; Top 5 Crypto Gainers and Losers this Week
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Scammers have used Google ads as a source to scam and stole over $4M. According to Web3 anti-scam platform Scam Sniffer, numerous cases of users who are falling prey to phishing scams have been reported. The users click on malicious ads that direct them to fraudulent websites prompting them to click on login credentials resulting in financial losses. The targeted brands include LIDO, Zapper.fi, DefiLlama, Stargate, Orbiter Finance, and Radiant.
The users normally click on the first option they see on Google without reviving the URL. The scammers have a similar landing page as that of the branded website with a slight change in the official URL. When the user clicks on the malicious advertisement, users are then asked to provide their login signature and when the victim enters the details, the scammers steal all the funds.
Best Cryptocurrencies to invest in May 2023
How do Scammers steal using Google ads?
Scammers use several techniques to pass the Google ads review process. They make use of the gclid parameter to show normal pages for Google review. Some scammers use anti-debugging measures to bypass Google’s ad reviews.
ScamSniffer’s database revealed that approximately $4.16 Million has been stolen from 3000 victims since last month. The stolen funds were deposited in exchanges like Binance, KuCoin, SimpleSwap, and Tornado.Cash. The scammers have earned an estimated ROI of about 276% as the average pay-per-click for these keywords is between $1-$2.
Users need to be more careful while clicking on any suspicious URLs or malicious websites and be cautious not to disclose any personal information.
Related: Crypto Industry saw a 40% Surge in Phishing attacks
Listing out Top 5 Gainers and Losers this Week
TOP GAINERS
1. Render Token RNDR
Render Token, a distributed GPU rendering network built on the Ethereum blockchain has gained 35.71% this week with a 24h trading volume of $264,138,366. The current price at the time of writing is $2.55.
2. Cronos CRO
Cronos, the native cryptocurrency token of Cronos Chain developed by Crypto.com, has a surge of 18.75% with a 24h trading volume of $132,463,445. The current price is $0.08042.
3. Injective INJ
Injective is a layer 1 blockchain built for finance to power next-generation DeFi applications. It has a rise of 14.22% with a trading volume (24h) of $189,831,342. The current price is $8.75.
4. MultiversX EGLD
MultiversX is a blockchain protocol that provides extremely fast transaction speeds by using sharding by providing services for Fintech, Decentralized finance, and the Internet of things. It has climbed to 13% with a trading volume (24h) of $106,527,482. The current price of EGLD is $44.53.
5. WOO Network WOO
WOO Network is a liquidity network bringing together traders, exchanges, institutions, and DeFi platforms and executing liquidity and trading at zero cost. WOO Token is used for staking and also for fee discounts. WOO has rallied to 10.22% with a trading volume (24H) of $62,668,691. The current price is $0.2926 at the time of writing.
TOP LOSERS
1. PancakeSwap CAKE
PancakeSwap is an automated market maker for decentralized Finance that allows users to exchange tokens, providing liquidity. It crashed 20.99% this week with a daily trading volume of $79,633,358. The current price at the time of writing is $2.66.
2. Optimism OP
Optimism is a layer 2 platform built on the Ethereum blockchain. The price of Optimism has slumped to 10.56% since the last week with a 24h trading volume of $83,417,746. The current price at the time of writing is $2.17.
3. OKB
OKB is launched by one of the third largest exchanges, OKEx. OKB is the utility token of OKEx used for voting and to reward users for staking. The price has dipped to 9.93% with a daily trading of $8,943,623. The current price at the time of writing is $47.74.
4. Zilliqa ZIL
Zilliqa is a public blockchain built to solve the issue of scalability and enhance transaction speed.The price of Zilliqa tumbled to 9.59% with the trading volume (24h) of $38,613,031.The current price at the time of writing is $0.02899.
5. Synthetix SNX
Synthetic is a decentralized liquidity provisioning protocol built on both Ethereum and Optimism mainnet with deep liquidity and low fees as its main features. The price plunged to 8.96% with a daily trading volume of $31,209,921. The current price at the time of writing is $2.45.
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