Phishing Scam Adverts Targets Users of Etherscan

According to recent reports, phishing scam advertisements target users of the Ethereum blockchain explorer, Etherscan, leading to losing their funds through a malicious technique called wallet draining. An announcement on X reveals that some ads on Etherscan are connected to wallet drainers.

These scams, cleverly designed to deceive users, leverage the popularity of Etherscan, a widely used platform for tracking transactions and exploring the Ethereum blockchain. By placing fraudulent advertisements on the platform, scammers aim to lure in users and trick them into divulging sensitive information or transferring funds to malicious addresses.

Phishing Ads Also Discovered on Other Sites

The modus operandi of these phishing scams typically involves enticing users with offers that seem too good to be true, such as high-yield investment opportunities or exclusive airdrops of popular cryptocurrencies. Once users click on the deceptive adverts, they are directed to fake websites that closely resemble legitimate platforms like Etherscan but are controlled by attackers.

Meanwhile, a Web3 anti-scam platform, Scam Sniffer, discovered that the phishing ads also appear on some other popular sites, not excluding Google, X (formerly called Twitter), and Bing, amongst others. However, the consequences of falling for these phishing scams can be financially devastating for users who lose their hard-earned cryptocurrency holdings. 

According to another report, though unconfirmed, it was revealed, that the suspect is likely Angel Drainer, a notorious phishing group who reportedly stole $403,000 worth of assets from several victims in February.

Users are Advised to Exercise Caution

When using platforms like Etherscan, it’s important to be cautious and skeptical when presented with enticing advertisements or offers to avoid being targeted by phishing scams. Additionally, users should be wary of clicking on unfamiliar links, especially those promising unrealistic returns or requiring the disclosure of sensitive information.

Furthermore, users should employ security measures such as two-factor authentication and hardware wallets to safeguard their cryptocurrency holdings against unauthorized access. By remaining vigilant and adopting best practices for online security, users can minimize the risk of falling prey to phishing scams and protect their valuable assets in the ever-evolving landscape of blockchain technology.

FBI Warns Investors Against Phishing Scams

Recall that in August 2023, the Federal Bureau of Investigation issued a warning against illicit players in the non-fungible token and crypto ecosystem who are taking control of social networking accounts and the accounts acting like legitimate individuals.

Notably, the warning message came up because more and more consumers are falling victim to various types of scams that result in the loss of their m