#AirdropSafetyGuide
Airdrop is a method for distributing tokens for free to eligible users with the aim of expanding the user base, raising awareness, and encouraging trading. However, not every airdrop is safe, and it's important to recognize warning signs and protect your assets.
Warning Indicators
A domain that resembles the official one but has a different letter or dot, or an expired SSL certificate.
Founders without a digital history or unreliable LinkedIn and GitHub pages.
Suspicious contracts where the contract address is not found on Etherscan or has few transactions.
Unjustified approvals where the approve request is unlimited and withdraws all assets.
Verifying the Legitimacy of the Project
Check the number of transactions and user interactions on Etherscan and look for audit reports from reputable entities. Also, check user opinions on Telegram, Twitter, and Reddit, and follow developers' accounts on LinkedIn and Twitter. Read the whitepaper and roadmap, and ensure there are clear technical details.
Common Scam Methods
Rug Pull where founders withdraw liquidity and disappear.
Phishing Airdrop fake links requesting wallet connection.
Fake Approvals that steal all assets after granting permissions.
Pump & Dump inflating the price and then dumping suddenly.
Example of a situation I avoided
A project requested a swap with a fee of 0.0001 ETH, but the domain was unofficial and the contract was not found on Etherscan, so I did not participate.
Always use a separate wallet for airdrops, set the approve value, and use revoke tools after transactions. Monitor audit reports before participating. Set a gas cap to fail fraudulent transactions.
