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Fake Uniswap ads on Google help scammers steal crypto
Scammers are increasingly using Google Ads to promote phishing ads impersonating the crypto protocol Uniswap. According to preliminary data, the attackers have stolen at least $400,000 from users through this scheme.
On-chain analyst b-block reported on X that a fake website posing as the decentralized exchange Uniswap was draining funds from multiple wallets. According to the analyst, addresses linked to the attack held at least $400,000.
Stacy Muur, founder of the Web3 marketing agency Green Dots, said the funds were stolen through a phishing ad on Google that impersonated the official Uniswap website. She also shared a screenshot of the sponsored search result.
According to Muur, the issue has existed for several years: fake links continue to appear above legitimate websites in paid search results, and users keep losing funds because of it.
Etherscan data showed that the two flagged addresses held a total of 146 ETH at the time of writing, equivalent to roughly $306,000.
DeFiLlama also noted that fake ads on Google remain one of the common sources of phishing attacks. In April, the crypto security nonprofit Security Alliance (SEAL) reported a notable increase in phishing activity in Google Search in March.
How the scheme works
According to SEAL, attackers either buy ads on Google or compromise legitimate advertising accounts to launch convincing ads on behalf of popular crypto protocols. These campaigns allow them to compete with real exchanges and projects for higher positions in the Sponsored results section.
SEAL blocked more than 356 malicious ad links. According to the organization, this reflects a steady flow of attacks through Google Ads that has continued for more than a year. The campaign is not slowing down, while the number of reports from affected users continues to grow.
The phishing ads used seemingly legitimate URLs to bypass Google’s automated checks. At the same time, a hidden secondary iframe loaded malicious code that also remained invisible to detection systems.
Victims landed on convincing copies of real crypto apps, while all network traffic was secretly routed through attacker-controlled servers. According to SEAL, $1.27 million was stolen this way between March 13 and March 30 alone.
Popular crypto theft methods
In addition to phishing ads in search results, scammers often use fake websites of exchanges, wallets, and DeFi apps. These pages can almost fully copy the interface of a real service, but after a wallet is connected, they prompt the user to sign a malicious transaction. The user thinks they are confirming a standard login or token swap, while in reality they are giving attackers permission to withdraw assets. Fake airdrop campaigns, giveaways, “support teams” on Telegram and X, and malicious browser extensions that steal seed phrases or replace wallet addresses during transfers work in a similar way.
Schemes involving AI have become a separate risk. Scammers can generate convincing emails, websites, and messages on behalf of well-known projects, create deepfake videos with “statements” from industry leaders, or launch fake investment bots promising automated trading and high returns. AI helps such campaigns look more professional: texts become less spam-like, and fake accounts appear more credible. As a result, it becomes harder for users to distinguish a real project from a fraudulent copy, especially when the link comes through advertising, social media, or direct messages.
As a reminder, by the end of 2025, Uniswap had processed more than 230 million unique addresses.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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