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Check Point Research (CPR) reported over $500,000 in user losses due to a massive phishing campaign on the network.

According to CPR analysts, Scammers used the popularity of cryptocurrency wallets MetaMask and Phantom’s popularity and Google advertising to spread their phishing resources. The fake services’ pages looked exactly like the real ones, except that their applications were used to steal user funds.

CPR detected most of the attacks over the weekend when hundreds of reports of money being lost while installing or downloading MetaMask and Phantom applications arrived. Some users also reported losing money after attempting to exchange cryptocurrencies through Uniswap or PancakeSwap. However, we refer to the fake sites of these popular resources, which have been cleverly disguised as genuine by scammers.

The attackers chose not to act in a “proven” manner, such as sending e-mails to victims with links to third-party websites or downloading malware, making this phishing attack unique. Instead, they took advantage of a massive Google advertising campaign.

Unfortunately, because not all users carefully checked the addresses of the sites from which they attempted to download mobile applications for crypto wallets, the majority of them encountered the domains “phatnon.app”, “phantonn.app”, and others instead of the original phantom.app. In the case of MetaMask, the distinction was in adding additional symbols, such as MètaMask.

Because some of the victims were newcomers, it was easy to deceive them, taking advantage of their lack of experience and knowledge in the crypto industry. Others have complained on Reddit about the theft of funds ranging from $1,000 to $10,000 from wallets, claiming to have some experience trading digital currencies.

One of Check Point Research’s employees will point out that we are currently starting a new type of fraud promoting phishing resources using Google Search as the primary vector of attacks on cryptocurrency wallets. According to him, each resource has been meticulously planned in terms of using keywords that users enter into the search engine to appear at the top of the search results.

According to analysts, the best way to ensure the security of your crypto wallet is to check the address of the resources you visit carefully. This simple but effective method will help you save money and time spent in the future on futile attempts to recover lost funds.

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