Binance CEO Changpeng Zhao (CZ) has warned that Google search results are still showing scam sites and crypto scams. Even scam sites show up on the official website.
On October 27, Binance CEO Changpeng Zhao warned users to beware of scam sites on Google. Specifically, CZ warned that when searching for CoinMarketCap on Google, scam sites with the tag “advertisement” are showing before the real site.
Despite Google’s strict policies regarding cryptocurrency marketing for its advertising service, scammers can still sneak in. Sometimes, scam sites are even shown higher than legitimate crypto and blockchain projects. In some cases, phishing sites can cleverly defraud users, as they often use copied URLs to trick unsuspecting people into clicking.
According to CZ it is very dangerous if users add smart contract addresses to MetaMask using these scam sites. Binance CEO also announced that he has contacted Google to fix it.
Cryptocurrency fraud prevention is increasingly advanced, but fraudsters can still exploit many vulnerabilities to perform their theft.
This week, Google has reached an agreement with the US Department of Justice to improve compliance procedures to resolve a data loss dispute related to the DOJ’s 2016 investigation into a cryptocurrency exchange. BTC-e, a Russian cryptocurrency exchange has been shut down for money laundering.
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