Hyperliquid User Loses $550,000 in Google Ad Phishing Scam

A Hyperliquid user lost approximately 550,000 in USDC on August 13 after interacting with a fraudulent Google search advertisement that directed them to a phishing website impersonating the trading platform, according to blockchain security researchers. The incident, which did not involve a breach of the Hyperliquid protocol itself, highlights the persistent risk of malicious sponsored ads targeting cryptocurrency users.

The theft was identified by DarcyAri, cofounder of the digital asset tracing firm FlashRescue, who posted onchain data showing three transfers from the victim's wallet to addresses he linked to the attacker. The stolen funds were split into three transactions: 27,500 USDC to one address, 82,500 USDC to a second, and 440,020 USDC to a third. The total loss aligns with the initial estimate of about 550,000 USDC.

Google confirmed it suspended the advertiser connected to the reported campaign. A company spokesperson stated that Google has zero tolerance for scams and that its systems blocked more than 99% of policy-violating ads before they ran in 2025. The company's 2025 Ads Safety report noted it removed over 602 million scam ads and suspended 24.9 million...