Beware: Ongoing scam targets crypto investors with fake Google Ads

In a troubling trend, scammers have been utilizing Google Ads to promote fake websites of popular crypto protocols, with Hyperliquid being one of the current targets.

A fake Hyperliquid ad directs users to a fraudulent website.

The modus operandi of these scammers is simple: They buy out ads to rank above the official websites in Google Search. The ads use similar branding and messaging to deceive users. 

Once users click on these fraudulent ads, they are directed to fake websites designed to mimic the appearance of the genuine websites. These fake websites may prompt users to enter their private keys under the guise of account verification or participation in a token sale. However, providing such information grants scammers complete access to steal users’ funds. Another common attack vector, and the one used on the fake Hyperliquid website, is to prompt a transaction that, when signed, immediately drains your entire wallet. 

Here are some tips to help you avoid falling for these scams: 

  1. Verify URLs: Make it a habit to always make sure you’re on the right URL before interacting with a website.
  2. Use official channels: Instead of relying on Google search, access crypto platforms directly through their official verified channels.
  3. Use bookmarks: Bookmark trusted crypto websites you visit often and use the “bookmarked” icon as a sign for you to know you’re on the right website.
  4. Never blind sign transactions: Use crypto wallets that run transaction simulations so you’re prompted about potentially harmful transactions. 
  5. Beware of unrealistic promises: If an ad or website promises exceptionally high returns, sudden airdrops etc. with minimal effort or risk, it’s likely too good to be true. Exercise skepticism and DYOR before signing any transaction.

Stay vigilant and stay safe! 

Lucas Gaylord

Lucas Gaylord

Lucas is the Co-Founder & CEO of Eulith. He was previously the Co-founder & CTO of Nomisma (ca. 2017 - 2021), a digital assets derivatives exchange which was acquired by Amber Group in 2021.

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