Aave became the first DeFi protocol to surpass $60B in net deposits on August 6, 2025, marking a sharp rise from $18B a year ago.
However, the milestone was quickly overshadowed by a phishing scam targeting users via fake Google Ads, exploiting the platform’s growing popularity.
Scammers exploit Aave’s rise with fake ad trap
The excitement around Aave’s $60B milestone didn’t last long, as scammers quickly launched a well-timed phishing attack.
According to blockchain investigation firm PeckShield, fake Google Ads, disguised as official Aave platforms, began showing up in search results.
These ads led users to lookalike websites, where connecting a wallet gave attackers full access to their funds.
What made the scam especially dangerous was its use of Google Ads, a platform many trust, making the trap even more convincing.
With the DeFi platform already in the spotlight, curious users were lured in at the worst possible moment. While the exact losses aren’t yet known, the scale and timing point to a potentially serious impact.
AAVE price holds steady despite scam warning
Despite the alarming security incident, Aave’s native token, AAVE, has shown remarkable price stability.
At press time on August 7, 2025, AAVE was trading at around $272.66, up by almost 7% in the last 24 hours, holding firm against any major dip that might typically follow such a breach in user safety.
Recent data shows the token remains in a consolidation range, with key resistance levels near $280 and support around $257.
The lack of a strong sell-off suggests that investor confidence in Aave’s fundamentals remains largely intact, at least for now.