Free proxy servers, is there a catch?

Could they actually be phishers?

[Automan Empire]

While discussing proxy servers recently, I got to thinking: what is the chance of a free proxy service being set up by somebody intent on grabbing all the sensitive info that users wanted a proxy for in the first place?
Does it cost much to run a free proxy site? Particularly, will a few adwords ads pay the freight?
Have you heard of any big cases of such a site used for malevolent purposes by its webmaster?
Thanks for the input.
-Automan

[physics]

I haven't heard of specific cases but it is something to be worried about when using free proxies.

[falter]

Automan_Empire, you bring up a rather good point. I'm going to kick a link to this thread to the guys at the SANS Internet Storm Center [isc.sans.org], and see what they say.

~mike