Google is facing criticism for allegedly promoting a malicious crypto website that leads users to a phishing clone, resulting in the theft of users’ cryptocurrencies. According to a report by BleepingComputer, cybercriminals have found a way to advertise a counterfeit version of Whales Market, an over-the-counter cryptocurrency platform. The fake website is being promoted as a sponsored link at the top of Google search results. Cointelegraph has confirmed that Google is currently advertising the fake Whales Market. Although the domain address appears legitimate, users are redirected to a fraudulent website upon clicking.
BleepingComputer also reveals that the scammers have registered multiple domains resembling Whales Market, including an inactive one. The counterfeit website replicates the authentic Whales Market interface, tricking users into connecting their digital wallets. However, once connected, malicious scripts are activated, resulting in the theft of users’ cryptocurrencies.
This incident adds to a growing list of scams that have exploited Google’s platform to deceive users. For example, a hacker managed to drain nearly $900,000 worth of crypto from billionaire investor Mark Cuban’s hot wallet by using Google Ads to target victims with fake versions of popular crypto sites.
While the identity of the individuals behind this phishing campaign remains unknown, Google seems to be taking action against scammers. In April, the company filed a lawsuit against Chinese nationals who deceived individuals with counterfeit crypto investments through the Google Play store.
The rise of wallet drainers has become a significant issue in the Web3 ecosystem. In November 2023, the developer of the “Inferno” drainer retired after successfully stealing more than $80 million from victims. Similarly, the developer of “Monkey Drainer” announced their retirement in March after successfully stealing an estimated $13 million.
In related news, Google has also sued crypto app scammers, as well as Crypto.com in Korea.