Aave Phishing via Google Ads After $60B Deposit Milestone
In a milestone, Aave topped $60 billion in net deposits across 14 networks, a threefold year-on-year rise. Hours later, a sophisticated Aave phishing attack surfaced via Google Ads. Scammers served fake ads leading to lookalike sites (eg aaxe.co.com), prompting victims to connect wallets. This Aave phishing attack then used malicious transaction signatures to drain funds irrevocably. Although no losses have been reported yet, this Google Ads scam highlights mounting DeFi security risks. Last year, crypto users lost over $4.6 billion to scams, with AI-driven phishing on the rise. AAVE price jumped nearly 6% to $271 on the news. Traders should verify ad sources, double-check URLs for typos, use tools like Revoke.cash to revoke approvals, and keep wallet security tight.
Bullish
The dual news of Aave’s record $60 billion net deposits and the Google Ads phishing exploit generated strong market confidence, driving AAVE price up nearly 6%—outweighing security concerns. Short-term bullish sentiment prevails as traders react to exceptional deposit growth and renewed DeFi optimism; long-term outlook remains positive if Aave continues its expansion and strengthens security.