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Blockchain security experts have discovered a new scam that uses malicious Google ads to trick cryptocurrency users into visiting a fake Pudgy Penguins website.
A new scam targeting cryptocurrency users has been discovered, and analysts at blockchain security firm Scam Sniffer warn that bad actors are apparently exploiting Google's advertising network to serve malicious ads.
In <a target="_blank" href="https://x.com/realScamSniffer/status/1871823641765445672″ target=”_blank” rel=”nofollow”>a thread On Wednesday, analysts explained that the malicious ads contain suspicious JavaScript code that checks whether the viewer has a crypto wallet. If a wallet is detected, the code redirects users to a fake website that imitates the legitimate Pudgy Penguins website, a non-fungible token collection of 8,888 unique tokens depicting chubby cartoon penguins.
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https://twitter.com/realScamSniffer/status/1871823641765445672
Once users are redirected to the fake website, scammers could steal personal information or lure victims into connecting their wallets, allowing unauthorized access to withdraw funds.
The current target of the scam is Pudgy Penguins users, but Scam Sniffer has warned that this method could easily be adapted to target other crypto projects as well. Security experts advise cryptocurrency investors to always carefully review website URLs to avoid falling for similar scams. To stay safe, Scam Sniffer recommended using ad blockers, considering a separate browser for web3 activities, and checking URLs before connecting a wallet.
The latest scam is part of a broader trend in which bad actors exploit Google ads to scam cryptocurrency users. In one case, scammers imitated the Revoke Cash recovery service by using fraudulent ads that redirected users to a fake site designed to steal funds. In another case, Google ads were used to promote a fake version of the Whales Market crypto platform, redirecting users to a fraudulent site where their wallets were compromised.
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