Scammers ran Google ads for popular search queries relating to the Terra ecosystem. When users searched for things like “Anchor protocol” or “Astroport”, the first result was actually a Google ad purchased by scammers impersonating the real protocols. The scammers were even able to make the domains resemble the correct domains, though these changed once the users clicked the advertisement. Users were then prompted to enter their seed phrases to connect their wallets, after which point the scammers were able to empty the wallets.52 different people fell for the scam, losing a total of around $4.3 million in assets. The scammers appeared to be targeting high-value wallets, with only two accounts transferring less than $1,000. 24 individual wallets were scammed for more than $10,000 each, 7 wallets lost more than $100,000, and one user lost almost $1.4 million.

Total loss estimated at $4,310,000.