Uniswap Users Fall Victim to Sophisticated Phishing Campaign on Google Ads

A phishing campaign targeting Uniswap users on Google Ads has resulted in losses of at least $400,000, according to reports.

The scammers used fake sponsored links to direct victims to a cloned website that mimicked the real Uniswap interface. The cloned site was designed to trick users into approving unlimited asset transfers, which allowed the scammers to drain their funds without needing private keys.

This is not an isolated incident, as security researchers warn that fake crypto ads are becoming increasingly common and affecting multiple DeFi brands. In fact, a recent report by SEAL showed that phishing tied to Google Search ads stole more than $1.27 million between March 13 and March 30 alone.