Scammers exploit Unichain hype with fake Uniswap L2 website

As excitement builds around Uniswap’s (CRYPTO:UNI) upcoming Ethereum (CRYPTO:ETH) Layer 2 network, Unichain, scammers have taken advantage by promoting a fake website through Google ads. 

The deceptive site posed as the official Unichain platform, misleading users and attempting to drain their cryptocurrency wallets.

The fake website, originally hosted at "unlchalindefi[.]com," mimicked the real Unichain site but included altered buttons, such as a misleading "connect" option. 

Scammers paid for sponsored placement on Google, causing their site to appear at the top of search results. 

Users who clicked on the ad were redirected to the fake site, which used deceptive tactics to steal funds.

Blockchain analytics platform Scam Sniffer identified the issue on October 15, warning users about the fraudulent site. 

Testing by Cointelegraph reporters showed that once users connected their wallets, the site immediately bombarded them with requests to approve transactions. 

MetaMask users received alerts from Blockaid, stating, “This is a deceptive request. If you approve this request, a third party known for scams will take all of your assets.” 

Google has since removed the misleading ad, but the incident highlights ongoing risks for Web3 users.

Uniswap Labs announced on October 10 that the Unichain testnet had been launched, with plans to introduce the mainnet later in the year. 

During this period, the legitimate Unichain website, "unichain.org," struggled to appear prominently in search results, allowing scammers to capitalize on the lack of visibility. 

The fake site was swiftly taken down, and it appears that the perpetrators were not able to carry out significant thefts this time.

This incident underlines the need for Web3 users to exercise caution, particularly when engaging with new protocols. 

Scammers often use Google ads to promote fake platforms, circumventing search engine filters. 

Users should avoid clicking on ads for Web3 projects and always verify that they are accessing legitimate sites. 

When interacting with new web apps, carefully reviewing transactions before approval can prevent unintended losses.

According to Scam Sniffer, these fraudulent tactics are common. 

A December report from the platform noted that scammers had drained over $59 million from users over nine months using similar methods. 

As Uniswap prepares for the full launch of Unichain, it is crucial for users to stay vigilant against potential scams and ensure they are only using official channels for any transactions.

At the time of writing, the Uniswap (UNI) price was $7.90, with a 2.7% change.