The user believed the ads on Google …

The user believed the ads on Google …

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Contents

User believed Google ads and lost $ 15,000 on crypto scams
CONTENT

  • User Lost $ 15,000 Believing Google Ads

  • Suspicious website speculates on digital yuan launch

  • Victim wants Google to figure out the situation

International consortium of news organizations, developing standards for transparency.

A Google forum user Kazuo Kusunose claims to have lost $ 15,000 by participating in a so-called “new Chinese cryptocurrency sale” that took place on the Yuan Pay Group website.

According to the victim’s account, the suspicious website was speculating on the upcoming launch of the digital yuan. Recall that China is actively working to create its own digital currency (CBDCBills and coins may be a thing of the past due to a new financial instrument – Central Banks Digital Currency (CBDC). As … More). The ad said that “China has launched a new yuan.” This statement caught the user’s attention.

Source: Coindaq.io

According to Kazuo Kusunose, the alleged cryptocurrency scam is being carried out through the Coindaq.io platform. When a user clicked on an ad, they were taken to the Yuan Pay Group page. Meanwhile, the theft of money takes place on Coindaq.io. Users are redirected to the platform to open an account and deposit funds. Without this, it is impossible to participate in the sale of the digital yuan..

The user thought they had transferred $ 10,000 to a Chinese cryptocurrency account. In fact, it turned out that this is an account on the exchange. He was persuaded to start trading, and even demonstrated how it is easy and simple to make money on crypto trading. After some time, Kazuo transferred another $ 5,000. The denouement of the story is known and unoriginal.

Source: coindaq-io-scam-report

Yuan Pay Group’s page is similar to other cryptocurrency projects like ICOs. The alleged scammers are positioning themselves as the only company authorized to sell and trade Chinese digital yuan. They also use images of Peter Thiel and Richard Branson for persuasiveness..

The user believed the ads on Google ...

Source: Yuan Pay Group

The advertised website appears to be used as a buffer from which the user is automatically transferred to the Yuan Pay Group. Perhaps this fact put the victim to sleep..

The user believed the ads on Google ...

The alleged scammers also use the name Coindaq. It is a cryptocurrency analytics platform, but it does not offer exchange services and is in the top zone of the .net domain. An unlucky investor approached Google with a request to check the ad campaign and prevent further fraud.

Google has set strict rules and has been wary of promoting cryptocurrency projects in the past. In accordance with the company’s advertising policy, ads can be placed by hardware manufacturers and cryptocurrency exchanges..

Recently, however, scammers have often found ways to circumvent the established rules. BeInCrypto’s editors previously reported that Uniswap phishing attacks appeared on the ad platform.

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A Google forum user Kazuo Kusunose claims to have lost $ 15,000 in a so-called “new Chinese cryptocurrency sale” on the Yuan Pay Group website.

Judging by the victim’s account, the suspicious website was speculating on the upcoming launch of the digital yuan. Recall that China is actively working to create its own digital currency (CBDCBills and coins may be a thing of the past due to a new financial instrument – Central Banks Digital Currency (CBDC). As … More). The ad said that “China has launched a new yuan.” This statement caught the user’s attention..

The user believed the ads on Google ...

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