New Delhi: Scammers have discovered a new technique to steal your wallet credentials as if the volatility of the cryptocurrency wasn’t terrible enough already.
According to Check Point Research (CPR), fraudsters copied well-known crypto wallets and platforms such as Phantom and MetaMask. When the victim clicked on the ad, they were redirected to a website that mimicked the UI of the well-known brand of wallet and stole their wallet’s credentials.
This resulted in the theft of more than $ 500,000 in cryptocurrency over the weekend, according to CPR. CPR discovered 11 hacked wallets with amounts between $ 1,000 and $ 10,000, but the scammers were able to steal some of the cash before they were discovered.
“In a matter of days, we witnessed hundreds of thousands of dollars’ worth of crypto theft,” said Oded Vanunu, head of Products Vulnerabilities Research at CPR.
“We estimate that over $ 500,000 worth of crypto was stolen last weekend alone. I believe we are on the verge of a new cybercrime trend where scammers will use Google search as their primary attack vector to reach crypto wallets rather than traditionally phishing via email, “added Vanunu.
Every fraudulent website contained “careful messaging and keyword selection,” according to Vanunu, which allowed scammers to outsmart Google searches and appear at the top of the results. The websites that the victims were referred to have been meticulously duplicated, even the brand’s messages.
“Unfortunately, I expect this to be a fast growing trend in cybercrime. I urge the crypto community to double check the URLs they click and avoid clicking on Google ads related to crypto wallets at this point, ”Vanunu said.
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