Aave hit by phishing attack day after reaching $60B in net deposits

Scammers used Google Ads to impersonate Aave investment platforms in an attempt to trick users into linking wallets to malicious sites.

Soon after decentralized liquidity protocol Aave announced it had surpassed $60 billion in net deposits, scammers launched a phishing campaign targeting its users through Google Ads, according to security researchers.

On Wednesday, Aave said that it had become the first decentralized finance (DeFi) protocol to accumulate $60 billion in net deposits across 14 networks. According to Token Terminal data, Aave’s net deposits more than tripled in the past year from around $18 billion in August 2024.

A day later, on Aug. 7, blockchain investigation firm Peckshield alerted the crypto community about an ongoing phishing attack targeting Aave (AAVE) investors. Crypto scammers have posted phishing links to fake Aave investment platforms via the Google Ads service.

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