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$60 Million Crypto Heist via Deceptive Google & X Ads

Cryptocurrency has become a popular investment in recent years, but with its rise comes an increase in scams designed to steal your hard-earned coins. One such scam involves a type of malware called a "wallet drainer."  What is a wallet drainer?  A wallet drainer is a type of malware that is designed to steal cryptocurrency from your digital wallet. It can be installed on your computer or mobile device through a variety of ways, such as clicking on a malicious link, opening an infected attachment, or downloading a fake app. 

Once installed, the wallet drainer will run in the background and monitor your computer or mobile device for signs that you are using a cryptocurrency wallet. When it detects that you are using a wallet, it will steal your private keys or seed phrase, which are used to access your cryptocurrency.  How are scammers using wallet drainers on Google and X ads?  Scammers are increasingly using Google and X ads to promote websites that contain wallet drainer malware. These ads may look like legitimate ads for cryptocurrency exchanges or wallets, but they will actually lead you to a website that is infected with malware. 

Once you visit the infected website, the malware will be automatically installed on your computer or mobile device. From there, it's just a matter of time before your cryptocurrency is stolen. 

How to protect yourself from wallet drainers? 

There are a number of things you can do to protect yourself from wallet drainers: 

  • Verify Ad Authenticity: Prior to interacting with an ad, verify its legitimacy by cross-referencing it with the official website or platform. Avoid clicking on ads that seem suspicious or promise unrealistic rewards. 

  • Ad Blockers: Consider using ad blockers that help prevent potentially malicious ads from displaying on your browser. These tools can significantly reduce the risk of encountering phishing ads. 

  • Caution with Personal Information: Refrain from providing sensitive information, especially cryptocurrency wallet details, through ad links or pop-ups. Legitimate platforms won't request sensitive data through ads. 

  • Stay Updated on Scams: Stay informed about prevalent ad-related scams targeting cryptocurrency. Follow official cryptocurrency platforms or cybersecurity sources for updates on emerging threats. 

  • Use Official Channels: Whenever possible, access cryptocurrency platforms or services directly through official websites or verified channels rather than clicking on ads, reducing the risk of falling victim to fraudulent schemes. 

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