Fake advertisements for 'Euler Finance' appearing in Google search results are stealing money from users' cryptocurrency wallets.
Users are tricked by malicious transactions through forged signatures and domains obscured by Punycode technology, leading to money loss in cryptocurrency wallets.
MAIN CONTENT
Fake advertisements about Euler Finance appear on Google search.
The Punycode technique is used to impersonate domains, deceiving users.
The scam method based on signing malicious transactions steals money from wallets.
What is the fake advertisement for Euler Finance, and why should users be cautious?
Based on analysis from Scam Sniffer - a platform specializing in Web3 anti-fraud, fake advertisements for Euler Finance were detected on Google with the aim of stealing users' cryptocurrency assets.
This advertisement fakes the real domain using Punycode technology, making it difficult for users to differentiate, leading them to sign malicious transactions on their wallets. This phenomenon is common and poses a high risk of losing money.
How does the Punycode technique work in domain impersonation?
Web3 technology security experts confirm that Punycode allows the conversion of complex Unicode domain names into ASCII characters, facilitating the impersonation of legitimate domain names.
Through Punycode, bad actors can easily deceive users when the fake domain looks exactly like the original Euler Finance domain, increasing the risk of clicking on malicious links.
How does the scam method through signing malicious transactions affect users?
According to Scam Sniffer, attackers ask users to sign fake transactions to gain control over the assets in the wallet, thereby transferring cryptocurrency out of the victim's account.
Transactions signed with fake software can grant full permissions to bad actors, causing users to lose all their assets in just a few seconds.
David Lee, Cybersecurity Director Web3, 2024
Users need to be absolutely vigilant against advertisements or links of unclear origin, avoiding signing unverifiable transactions on their wallets to effectively protect their assets.
How to recognize and avoid fake advertisements on search platforms?
Web3 security experts recommend that users always carefully check the URL, do not click on unusual advertisements, and use updated anti-fraud tools.
Verifying information on the official website and being cautious with transaction requests that do not clearly explain is an important step to protect cryptocurrency assets.
Real-life examples and the impact of fake scams on the cryptocurrency community
In 2023, many victims in Vietnam and internationally lost hundreds of thousands of USD due to signing similar fake transactions with fake Euler Finance advertisements. Scam Sniffer reports a 35% increase in attacks based on malicious advertisements on search platforms.
This indicates that raising awareness and implementing preventive technical measures is necessary to minimize damage.
Frequently asked questions
What is the fake advertisement for Euler Finance? It is a scam advertisement that uses the name Euler Finance to steal money from wallets through fake transactions. Why is Punycode dangerous in scams? Punycode helps bad actors create domain names that look very similar to the real ones, tricking users into clicking on fake links. How to avoid losing money when using cryptocurrency wallets? Do not sign unclear transactions and carefully check the URL before interacting. What software or tools help detect fake advertisements? Web3 anti-fraud platforms like Scam Sniffer help warn early about fraudulent tricks. What should you do if you suspect encountering a fake advertisement? Avoid clicking, report to the managing unit, and strengthen your personal wallet security.
Source: https://tintucbitcoin.com/euler-finance-canh-bao-quang-cao-gia/
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