Beware of fraud: Fake exchange Kucoin.net with an advertising campaign in Google Adwords

Beware of fraud: Fake exchange Kucoin.net with an advertising campaign in Google Adwords

The cryptocurrency market is attracting the attention of fraudsters like never before.

There is nothing surprising, given the cryptocurrency mania 2017. And then the news sources are full of headlines about another hacker attack, Scam project or a fake website.

In early 2016, a Reddit user has invested a few BTC on a phishing web site, which as two drops of water similar to a website popular exchange platform ShapeShift.io. The only difference was the letter in the address bar, which would-be investor had not noticed. This is not an isolated case. Occasionally you can stumble upon fakes BitStamp, the Bitcoin Foundation, Blockchain.info and other popular resources.

So recently someone launched a fraudulent campaign in Google Adwords, promoting fake exchange Kucoin. Given the current popularity of this exchange among cryptocurrency enthusiasts, it is very likely that many users will become a victim of hackers. Kucoin generates significant trading volume and the majority of supported currencies traded like Bitcoin and Ethereum. At the moment, the platform has a much smaller volume than the popular ones, but given the lack of KYC rules, this amount is likely to increase.

Frankly, a little unclear what you want to achieve the attackers fake web ads to Google. One possible explanation – to get the credentials specified users to access their balances. At the same time Kucoin always advises users to enable two-factor authentication. Those who do, will always be protected from phishing scams, because, with great effort, cheaters will not 2FA.

Broadcast ad fake exchange Kucoin redirects users to the Kucoin.net. This site is very similar to the real Kucoin.com the only difference in the domain. This again demonstrates the importance bookmark the sites that you always use, rather than relying on the results of search engines. Google Adwords quite often advertised phishing sites and fraudulent projects, and exchanges now number one goal.

It seems that this is not the first time ads have fake exchange Kucoin appeared in Google. Such an advertising campaign took place not so long ago, but Google eventually removed them. It is unclear again whether the same person or someone else continued his work. Too easy to create such fake ads and approve them in Google. Unfortunately, this will remain one of the most pressing problems in the world of cryptocurrencies for quite a long time.

It would be logical to assume that the team Kucoin should buy all domain names are top-level for their platforms to avoid similar problems in the future. But for some reason they decided not to. It is hoped that fewer people come across on a hook of swindlers.

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