Google’s online advertising platform, Google Ads, is being used by threat actors to promote malicious crypto websites, resulting in a phishing scam targeting users. The attackers have exploited Google Ads to advertise a fake version of Whales Market, an over-the-counter crypto platform. Despite initially appearing with a seemingly legitimate domain address, users who interact with the ad are redirected to a fraudulent domain, instead of the authentic Whales Market website. The imitated clone of the Whales Market website replicates the interface of the legitimate version, deceiving users into linking their digital wallets, which triggers malicious scripts that drain victims’ crypto holdings.
This incident is part of a growing trend where scammers exploit Google’s platform to promote fraudulent services. Google has taken action against scammers in the past, including filing a lawsuit against two individuals from China for utilizing the Google Play store to deceive people into fake crypto investments. The company deactivated 87 fraudulent apps associated with the individuals, which collectively garnered nearly 100,000 downloads worldwide. Google seeks a permanent injunction against the defendants and claims damages exceeding $75,000, including expenses related to investigating the breach and ensuring platform safety and integrity. The lawsuit serves as a precedent to future bad actors, indicating that Google does not tolerate such behavior.
Google’s efforts to combat crypto scams also include launching a feature that allows users to search balances of wallets on various blockchains, such as Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom. Despite these proactive measures, scammers continue to find ways to exploit Google’s platform for their fraudulent activities. In the case of the fake Whales Market website, users were lured into the phishing scam through a sponsored ad at the top of Google search results. The attackers have registered multiple domains targeting Whales Market, with one of them being inactive. This highlights the sophisticated tactics used by scammers to deceive unsuspecting users.
The identities of the perpetrators behind the phishing campaign targeting Whales Market remain unknown, but Google is working to take action against such malicious actors. The company’s general counsel, Halimah DeLaine Prado, emphasized the importance of using resources to combat crypto scams and protect users. In 2023 alone, over a billion dollars of cryptocurrency fraud and scams were reported in the U.S. Google’s lawsuit against the individuals from China serves as a means to demonstrate that such fraudulent activities will not be tolerated on its platform. By deactivating fraudulent apps and taking legal action against scammers, Google is sending a clear message to those engaging in illicit activities.
As technology continues to evolve, the risks of online scams and phishing attempts also increase. Google’s efforts to address and prevent crypto scams on its platform are commendable, but more needs to be done to ensure the safety and security of users. The recent incident involving the fake Whales Market website is a reminder of the ongoing threat posed by malicious actors in the digital landscape. By remaining vigilant and taking proactive measures, platforms like Google can continue to protect their users from falling victim to scams and fraudulent activities.
