The chief executive officer at Binance, Changpeng “CZ” Zhao has recently issued a statement that is more of a warning for the crypto community.
According to CZ, Google is still not putting a leash on cryptocurrency phishing sites. Instead, Google is still promoting crypto phishing sites.
The users are still able to find such sites as they perform searches through the Google Search option on the platform. The online search engine giant has not even gotten rid of the scamming websites from the platform.
Scammers Get Past Google
It cannot be said that Google has not tried stopping cryptocurrency scammers or fraudsters. They have implemented several policies related to cryptocurrency marketing and advertisements that are very strict.
Despite coming up with stricter policies and actions, scammers and fraudsters keep finding ways to target people. The hackers have been successfully finding cracks in Google systems.
The scammers end up slipping through these cracks and luring innocent investors to steal their funds.
According to the reports, some of the scam websites have their fake platforms on higher search results than the legit ones. This causes people to think that the platform is legit and they end up trusting it.
This is how the scammers have been able to portray themselves as legit blockchain and crypto projects and swindle people.
Warning Message by CZ
CZ finally spoke up against the matter on October 27, where he criticized the overall situation. He claimed that while searching for CoinMarketCap, he came across multiple ads displayed on top of his intended search.
These advertisements are nothing but scams and fraudulent attempts by the swindlers to lure them and steal their funds.
Many MetaMask users have claimed that they ended up adding their credentials for the MetaMask platform on phishing websites.
CZ stated that they have been trying to get in touch with the right people in Google to raise the matter properly. In the meanwhile, they also attempt to warn their users about such fraudsters.
They want to ensure that their users do not end up getting caught in the traps set by such fraudsters. While they are trying to get a hold of Google, they are also warning their users about such fraudsters.
Scams are growing in Number
Over the course of one year, the number of cryptocurrency scams has risen tremendously. It seems that the number of cryptocurrency scams is directly proportional to the number of scammers.
The scammers have been finding new and sophisticated ways to lure investors and steal money. The cryptocurrency industry has become the favorite target of online hackers because of decentralization.
Therefore, CZ has demanded that an end must be put on the cryptocurrency scams and it should begin with Google taking down such advertisements.