Bad actors have stolen over $400,000 from crypto users by deploying phishing scams on Google. The latest incident involved decentralized protocols Uniswap, adding to the rising figures this year. Digital asset holders have knocked search engines for failing to periodically vet links.
Crypto Phishing Attacks on The Rise
Crypto analysts have uncovered a massive phishing scam that stole digital assets from several users. B-block warned users on X that scammers are using a fake website modeled after Uniswap to defraud users.
At the time, wallets held over $400,000 in stolen crypto, with users urged to exercise caution before interacting with links. Both addresses used in the drain initially held 146 ETH per Etherscan data.
Basically, bad actors create fake websites modeled after a particular crypto project, usually an exchange, and lure unsuspecting users. Once a user opens an account or tries to enter login details, scammers collect personal information and steal funds.
Though an old trick in the book, several victims are recorded yearly due to similar patterns on the main website. Bad actors take it a step further by running ads on search engines to build credibility, as their ads appear before other options.
 
Unsuspecting users see the ad on digital platforms, interact with it, and lose assets within minutes. Green Dots founder Stacy Muur explained that the Uniswap incident occurred via a sponsored Google post criticizing the tech giant for a lack of proper care.
“Two scammers have already stolen ~$400,000 from users through a phishing @Uniswap ad on Google. It’s insane that Google has ignored this issue for years while fake links keep getting pushed above real ones and users keep getting drained. This is the first result that popped out to me today. Always double-check links through official X accounts or DeFiLlama before connecting your wallet.”
Meanwhile, blockchain security experts continue to warn the public about the growing threat and highlight steps to protect their assets. Repeated incidents leading to widespread losses have always lowered market sentiment, especially during bear phases.
In February, scammers impersonated Trezor, Ledger, and other crypto firms in a massive email scam. Users were told to provide key details that could expose their assets.
Last year, two UK hackers deployed two fake crypto websites and drained over $2 million. It should be noted that traditional phishing scams are largely in decline, leading bad actors to deploy new techniques.
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