- Aave faces phishing attack post $60B deposits milestone.
- No official response from leadership yet.
- User losses reported, security measures stressed.
Aave users faced a phishing attack exploiting Google Ads, reported on August 7, 2025, just a day after Aave reached $60 billion in net deposits.
The attack has significant implications for user asset security and highlights vulnerabilities in advertising platforms, leading to at least $3 million in reported user losses.
Aave has experienced a phishing attack targeting its users through Google Ads, right after achieving over $60B in net deposits. This attack highlights the vulnerabilities exposed in such major financial milestones.
The phishing attempt involved fake websites indistinguishable from the original, with no official statement from Aave’s leadership, including Founder/CEO Stani Kulechov. Security experts informed users of these threats through alternate channels.
Users have reportedly faced financial losses, with one individual losing over $3 million due to the attack. There is uncertainty regarding the total damage, as attackers manipulated wallet permissions to execute unauthorized transactions.
The incident underscores the ongoing security challenges within decentralized finance platforms, prompting users to exercise caution with wallet permissions and verify website authenticity. Market participants remain vigilant against such cyber threats.
Following the attack, the industry has been prompted toward increased security awareness and the importance of user education. The absence of Aave-led communication has led to a reliance on industry analysts for immediate guidance.
“The phishing threat via Google Ads highlighted the ‘aaxe.co.com’ malicious clone as indistinguishable from the original.” – PeckShield, Blockchain Security Firm
In examining potential outcomes, financial experts stress the importance of technological upgrades and regulatory advisories to mitigate similar risks. Historical data from previous attacks on other platforms suggests a pattern of increased vigilance post-large-scale heists.
