How this may affect you, you ask? One such possibility is the one described by OP. Another possibility is you can be redirected to fake websites where you can input real information. The information then goes in the wrong hands and you will ultimately become a victim.
It depends on what kind of malware being injected into our system and almost anything can be done remotely if an attacker can get you install an infected file and let's say the complete control of your device will be on the attacker side too which including, crypto wallets, personal files.
I don't really navigate to any website if it's coming from a shortened url, always just go and search the website by yourself and don't even trust the results shown by the google in the top.