Hackers use Google ads to steal $50 million in cryptocurrency

Hackers managed to steal around $50 million in cryptocurrency over three years using Google ads, fake websites and a basic phishing scam, new reports have revealed.

Cybercriminals have been taking advantage of the rise of Bitcoin and other virtual currencies for some time now, and have been able to remain undetected. This time, however, security experts have helped to identify the nature of the scam.

Coinhoarder, as they call themselves, used Google ads related to popular search terms related to crypo and presented users with malicious ads. Once the ads were clicked on, the Ukraine-based hackers could gather personal details from the websites, which looked as legitimate as can be.

The group has thought to be active since 2015, but activity soared alongside the value of Bitcoin in 2017. Ironically, notes BTSManager, the anonymous nature of the blockchain means that the hackers in this case will likely never be found.