Phishing Scam Targets #Aave Users via #Google Ads After Protocol Surpasses $60B in Net Deposits

Aave’s Milestone Draws Unwanted Attention from Scammers

Aave, the decentralized liquidity protocol, recently celebrated a historic achievement — surpassing $60 billion in net deposits across 14 blockchain networks. However, the celebration was short-lived as a phishing campaign was launched against Aave users shortly after the announcement.

According to data from #Token Terminal, Aave's net deposits have more than tripled over the past year, growing from around $18 billion in August 2024 to over $60 billion by August 2025. This growth solidifies Aave's position as one of the most dominant decentralized finance (DeFi) protocols in the space.

#Scammers #Exploit Google Ads to Target Crypto Users

Just one day after Aave’s announcement, blockchain security firm PeckShield issued a warning about an ongoing phishing scam designed to exploit unsuspecting investors. The attackers have reportedly used Google Ads to promote malicious websites disguised as legitimate Aave platforms.

“We’ve identified several fraudulent ads leading to phishing websites impersonating $AAVE ,” PeckShield posted on X (formerly Twitter).

These ads direct users to fake Aave interfaces, where they are prompted to connect their cryptocurrency wallets. Once a user links their wallet, the scammers gain access to their funds, allowing them to initiate unauthorized transfers. In most cases, such transactions are irreversible and lead to permanent asset loss.