Did You Just Google ‘Hyperliquid’? You Might’ve Landed on a Wallet Drainer
The post Did You Just Google ‘Hyperliquid’? You Might’ve Landed on a Wallet Drainer appeared on BitcoinEthereumNews.com. A malicious ad impersonating Hyperliquid has surfaced on Google, tricking DeFi users into connecting wallets and signing away their assets. These attacks rely on precision-cloned domains and malicious smart contract approvals; no seed phrase needed. Scam Sniffer confirmed the exploit is live, with real user funds at risk. The bigger story? This is part of a rising trend: wallet drainer scams now eclipse protocol hacks in total value stolen. These Google ad-based exploits are part of a growing trend known as Pig Butchering, where scammers create fake dashboards or investment fronts to “fatten” users before draining their wallets through deceptive permissions. According to Scam Sniffer, these scams aren’t isolated: wallet drainers have drained $494 million from over 300,000 wallets in 2024, a 67 percent year-over-year increase. Sophistication in Scale: Cloned Domains and Fake Branding Scammers are cloning official Web3 project domains and matching tired branding to deceive even discerning users. These look-alike sites reproduce layout, naming, and interaction flows to create a false sense of legitimacy. In the case of Hyperliquid, the site mimics the official interface enough to lure users into granting “approval” permissions — an action that executes a smart contract draining assets under the radar. Hyperliquid scam: Source: X This attack vector has become the dominant threat model in DeFi, surpassing protocol hacks. Notably, Scam Sniffer reported 30 wallet‑drainer scams in 2024. The total amount exceeded $1 million, with the largest single theft netting $55.4 million. Ethereum was the primary target, accounting for more than $152 million, nearly 89 percent of the total loss from large-scale drainers. Beyond the Phishing Trap: No Seed Phrases, Just Signatures Unlike traditional wallet phishing that steals seed phrases, these auto-drainers rely on malicious smart contract approvals. Users land on the cloned site, connect their wallet through WalletConnect or injected Web3 libraries, and approve transactions; often with subtle permissions like…
The post Did You Just Google ‘Hyperliquid’? You Might’ve Landed on a Wallet Drainer appeared on BitcoinEthereumNews.com.
A malicious ad impersonating Hyperliquid has surfaced on Google, tricking DeFi users into connecting wallets and signing away their assets. These attacks rely on precision-cloned domains and malicious smart contract approvals; no seed phrase needed. Scam Sniffer confirmed the exploit is live, with real user funds at risk. The bigger story? This is part of a rising trend: wallet drainer scams now eclipse protocol hacks in total value stolen. These Google ad-based exploits are part of a growing trend known as Pig Butchering, where scammers create fake dashboards or investment fronts to “fatten” users before draining their wallets through deceptive permissions. According to Scam Sniffer, these scams aren’t isolated: wallet drainers have drained $494 million from over 300,000 wallets in 2024, a 67 percent year-over-year increase. Sophistication in Scale: Cloned Domains and Fake Branding Scammers are cloning official Web3 project domains and matching tired branding to deceive even discerning users. These look-alike sites reproduce layout, naming, and interaction flows to create a false sense of legitimacy. In the case of Hyperliquid, the site mimics the official interface enough to lure users into granting “approval” permissions — an action that executes a smart contract draining assets under the radar. Hyperliquid scam: Source: X This attack vector has become the dominant threat model in DeFi, surpassing protocol hacks. Notably, Scam Sniffer reported 30 wallet‑drainer scams in 2024. The total amount exceeded $1 million, with the largest single theft netting $55.4 million. Ethereum was the primary target, accounting for more than $152 million, nearly 89 percent of the total loss from large-scale drainers. Beyond the Phishing Trap: No Seed Phrases, Just Signatures Unlike traditional wallet phishing that steals seed phrases, these auto-drainers rely on malicious smart contract approvals. Users land on the cloned site, connect their wallet through WalletConnect or injected Web3 libraries, and approve transactions; often with subtle permissions like…
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