Malicious phishing advertisements impersonating Uniswap have been appearing on Google Search, netting attackers at least $400,000, a blockchain analyst warned this week. The scam exploits users searching for the popular decentralized exchange, directing them to fake sites that drain wallets. The total theft is likely higher — the analyst's estimate only covers confirmed losses so far.
The fake ad campaign
The fraudulent ads look nearly identical to legitimate Uniswap promotions. Clicking them leads to a clone site that asks visitors to connect their wallets. Once connected, the scam contract sweeps tokens. The campaign appears to target both new and experienced users who rely on Google to find the official Uniswap interface.
Blockchain analyst raises alarm
A blockchain analyst tracking the scheme issued a public warning on social media on Tuesday, sharing the scam addresses and urging users to verify URLs before interacting. The analyst noted that the ads were still live at the time of the warning. Google hasn't publicly commented on the takedown status as of press time.
What users should check
The official Uniswap app is at app.uniswap.org. Any variation — extra words, different domain endings, or slight spelling changes — is likely a phishing site. Users should also avoid clicking sponsored results for DEX platforms and instead bookmark the real address. Hardware wallet users aren't immune; signing a malicious transaction can still drain funds.
The incident isn't isolated. Sponsored-search phishing has become a recurring problem across crypto, with scammers buying ads for tokens, exchanges, and wallets. The $400,000 figure makes this one of the costlier campaigns this year, though the actual number could rise as more victims come forward.
Whether Google's ad-screening systems missed the impersonation or the ads were approved and later swapped to malicious links remains unclear. No update from Google on removal has been published.
