Crypto Trader Loses Big to Phishing Attack via Google Ad

A recent incident highlights the ongoing threat of ad-based phishing attacks in the cryptocurrency space.

A trader on Polymarket reported losing a mid-six-figure amount after falling victim to a convincing ad impersonating Uniswap. The ad, which appeared at the top of Google search results, redirected the user to a clone site where they connected their crypto wallet and approved a malicious transaction.

Unfortunately for the victim, this transaction granted attackers permission to drain assets from their wallet. Friends and associates later expressed condolences in online comment threads, noting that the loss could potentially represent most of the trader's net worth.