Advertisers Lose An Approximate Of $130 Million In Fraud Dubbed As Hydra
In a revelation by Protected Media, a security firm based in Israel, advertisers lost an approximate of $130 million in an advertisement fraud. They have named the accused as Hydra, and there is an ongoing search operation target to find the accused.
However, Google and other advertisement tech firms are looking for the accused, but yet no one knows who is behind this million-dollar fraud.
Hydra!
Image credit – Medium
The given name is perfect for a criminal community. Hollywood movies often have such names for their villains.
Although, it is indeed a villain in the real world which is responsible for fraudulent activities and stealing of $130 million; valuable hard-earned money of the advertisers.
The problem is, it still exists and has not been identified.
Rachel Nyswander Thomas, COO of TAG said, “Hydra is an accurate name because the impressions are being sold through many networks and being diluted — there are many heads to slay.”
The statement certainly raises concerns.
It is said to be creating fake app traffic. The traffic goes undetected by humans, ultimately costing them money for nothing.
Even though it was detected nearly a year ago by Asaf Greiner, CEO at Protected media, it is hard to catch the people behind the fraud scheme. These are clear signs that the fraud scheme is no ordinary fraud that advertisers or tech firms have faced in the past.
Reportedly, it portrays itself as mobile phones to create small amounts of traffic and then diverting the ad-traffic into the areas where enormous money is getting invested.
There is an ongoing search operation in progress; “Operation Abolish Hydra.”
However looking at the scenarios, it will take some outstanding measures to get to the root of such clever fraud techniques.
There is an ongoing fight against fraud, piracy, malware, and the absenteeism of transparency in the world of digital marketing.
To fight such malpractices, and eliminate the risk of fraud by these malpractices, American Affiliation of Promoting Companies (4A’s) and Affiliation for Nationwide Advertisers (ANA) and IAB created TAG. The leadership council of this community contains names like ad platforms, companies, and advertisers at the side of, Facebook, Google, NBCUniversal, GroupM, and Dr. Pepper Snapple Community.
Even when Google checked things with its Advert Traffic Quality team, it confirmed the fraud is costing people their money. Although, according to Google, it has only lost the least volume of marketing from the scam operation.
In the meantime, TAG launched the operation, “Operation Abolish Hydra.”
The operation allowed digital ad sellers to report any fraudulent activity to TAG. Therefore, ultimately helping in the detection and control of this fraud.
Rachel Nyswander Thomas, COO of TAG said, “What is more modern is the diploma to which or no longer it is specializing in in-app inventory and that or no longer it is hiding in more modern ways.”
In a statement Asaf Greiner, CEO at Protected media acknowledged:
“Promoting platforms are ashamed of being victimized and they’re threatened by it.”
Also, “They’ll compile true into an express where an advertiser asks them to pay them abet. Most CMOs need to specialize in their subsequent job. It would no longer find excellent on anybody’s resume.”
A Google spokesperson stated the following while addressing the issue:
“We commend Accurate Media for sharing facts on the Hydra ad fraud blueprint and participating with the broader exchange, which is distinguished to minimizing effect.”
He also acknowledged that “The largest takeaway from this case is the need for all mobile app developers to put into effect app-adverts.txt records data to mitigate app spoofing risks.”
A spokesperson from TAG said:
“It will lift time to construct a culture of possibility-sharing.”
Further stating that “We stamp original to this as an exchange. However other people are initiating to possess an extensive consciousness that or it is no longer almost about taking half in whack-a-mole yourself.”
