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Phantom App and MetaMask Wallet Users Lost $ 500,000 in Phishing Attack

Information security company Check Point has warned owners of Phantom App and MetaMask cryptocurrency wallets about a phishing attack using Google Ads.

Reddit and Twitter users reported that they were the victims of scammers when they created the Phantom App and MetaMask wallets. According to the Israeli information security company Check Point, the attackers stole about $ 500,000 in cryptocurrency.

The scammers used the traditional phishing site scheme, incorporating elements of cybersquatting and Google promotion. They acquired domain names that differ slightly from the domain names of the popular Phantom App and MetaMask cryptocurrency wallets.

Links to phishing sites were posted on Google Ads. Through them, users got to a fake site, where they created a new cryptocurrency wallet, or entered a password from an existing one. Thus, the attackers gained access to the user’s cryptocurrency and transferred it to their wallets.

Cybersecurity specialists Check Point recommends that users carefully check the wallet URL and refrain from using links to sites that Google Ads offers in order to avoid becoming a victim of scammers.

Recall that according to the American Internet Crime Complaints Center (IC3), in 2020 the number of phishing attacks with theft of cryptocurrencies increased 20 times compared to 2018.

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