As for how this fraud mode works, initially, there is an initial email including a link or calendar file with a link to Google Forms or Google Drawings.
Users are then asked to click on a link that is often disguised as a fake reCAPTCHA or help button.
After clicking the link, users are directed to a page that looks similar to a cryptocurrency mining landing page or bitcoin support page.
These pages are actually aimed at financial fraud. Once users arrive on the page, they are asked to complete a fake authentication process, enter personal information, and provide payment details.
Google recommends users enable the “Known senders” setting in Google Calendar.
The Known Sender setting in Google Calendar helps ward off this type of phishing by notifying users when they receive an invitation from someone who is not on their contact list or has never interacted with that email address.