Author: Dilip Kumar Patairya
Compiled by: Tim, PANews
Key Points
In 2024 and 2025, fake airdrop scams targeting projects like Hamster Kombat and Wall Street Pepe resulted in user losses of millions of dollars, causing global cryptocurrency scam losses to exceed $9.9 billion.
Fake airdrops impersonate legitimate projects, luring users to disclose private keys, sign malicious contracts, or pay upfront fees, resulting in stolen funds that cannot be recovered.
Danger signals include lack of official announcements, suspicious URLs, requests for private keys, grammatical errors, and unrealistic reward promises.
Future airdrops are gradually shifting towards activity-based, retrospective, and AI-monitored models aimed at rewarding genuine user participation while reducing cheating behaviors.
Although crypto airdrops are a legitimate means for projects to gain exposure and users, scammers are exploiting this trend to steal user assets through fake airdrop activities. Between 2024 and 2025, fake airdrop scams surrounding projects like Hamster Kombat and Wall Street Pepe have caused victims to lose millions of dollars. According to blockchain analysis firm Chainalysis, estimated losses from global cryptocurrency scams and fraud (including fake airdrops) reached at least $9.9 billion in 2024.
Identifying danger signals is crucial for ensuring airdrop security. This article will explore key danger signals and practical prevention tips to help you effectively safeguard your assets.
What are fake airdrops?
Airdrops are a common method of free token distribution in the crypto market, often part of marketing campaigns, user growth strategies, or community-building plans. Legitimate airdrops create value by rewarding early participants, increasing token visibility, or incentivizing network participation. Users typically only need to complete simple actions like following social media, registering, joining communities, or holding tokens to qualify for airdrops.
However, the popularity of airdrops has also attracted scammers. They exploit users' greed and curiosity by promising to give away tokens (fake airdrops) to induce users to perform sensitive actions, such as sharing private keys, signing malicious contracts, or paying gas fees. Fraudsters may impersonate real projects, using forged domain names or fake social media accounts to deceive users.
These scams often appear very convincing, even experienced users can fall victim. Therefore, one must always remain vigilant when claiming airdrops.
Did you know? In 2023, the phishing tool Inferno Drainer assisted scammers in stealing over $80 million through fake airdrop activities. This tool operates in a 'phishing-as-a-service' model, providing partners with pre-built phishing kits to create fake airdrop websites, targeting digital wallets across multiple blockchains.
Key Danger Signals for Identifying 'Fake Airdrops'
Before participating in an airdrop, be sure to learn to identify danger signals. These danger signals are your first line of defense against cryptocurrency theft or sensitive information falling into the hands of scammers:
1. Official certified channels have not issued formal announcements
Warning: A major alert signal for identifying fake airdrops is that the project's official communication channels have never issued relevant announcements. Scammers often promote fake airdrop activities by actively sending private messages, creating unofficial Telegram groups, or building poorly made websites that imitate legitimate projects.
Countermeasure: Before clicking any link, be sure to confirm the authenticity of the airdrop by checking the project's official website, verified X accounts, or official Discord or Telegram channels. If the official channels do not mention this airdrop, be sure to stay away.
2. Private Key or Seed Phrase 'Verification' Requests
Warning: A key danger signal of fake airdrops is the request for you to provide private keys or seed phrases to 'verify' your wallet. These scams disguise themselves as qualification review processes, luring users to hand over complete control of their cryptocurrency wallets. Once the private key or seed phrase is leaked, scammers can immediately steal all assets in the wallet.
Countermeasure: Genuine airdrops will never ask you to provide private keys or recovery phrases; this information should always remain confidential. If anyone or any website requests this information, it is evidently a scam. Please exit the related page immediately.
3. Prepayment of Gas Fees or Cryptocurrency Payments
Warning: A significant danger signal of fake airdrops is the requirement for users to prepay gas fees or cryptocurrency payments to 'unlock' tokens. Scammers typically insist that you send ETH or other cryptocurrencies to receive rewards, but after payment, the promised tokens never arrive, and your funds will be lost.
Countermeasure: Legitimate airdrops are always free and usually require completing basic tasks such as connecting wallets or performing simple actions. If an airdrop requests payment, it is likely a scam. Never transfer funds to unfamiliar addresses.
4. Suspicious URLs or Clone Websites
Warning: Fake airdrops often deceive users using phishing websites that impersonate legitimate projects. These websites aim to lure users to connect wallets and sign fraudulent transactions.
Countermeasure: Before participating in a project's transaction, you must carefully verify the project's URL link. Fake links often have subtle differences, which may include spelling errors, extra characters, or use of different domain suffixes (such as replacing .com with .net).
Fun Fact: Some airdrop projects use retrospective criteria to distribute rewards based on users' past activity. This mechanism can encourage users to voluntarily participate in ecosystem building before the airdrop announcement, making it possible to qualify for free token distribution in the future just by using DApps naturally.
5. Grammatical Errors and Urgent Language
Warning: Many fake airdrop activities contain grammatical errors, spelling issues, or use urgent slogans such as 'Claim now, or miss out!' or 'Last chance for free tokens!' These tactics are intended to create FOMO, inducing users to click on malicious links without thinking. Poorly written content and intentionally created urgency are key signals for identifying scams.
Countermeasure: Legitimate crypto projects communicate professionally and clearly. If an airdrop announcement contains errors or uses urgent language, be sure to stay away.
6. Fake Social Behavior or Bot Comments
Warning: Scammers frequently use fake social behavior to fabricate airdrop posts, such as comments like 'I just received 500 $XYZ!' or 'Absolutely reliable!' These contents are often posted by bots or fake accounts, aiming to create a credible appearance to induce user participation. They may also impersonate celebrity accounts or create highly realistic accounts to disseminate false airdrop information through counterfeit authoritative endorsements. These fraudulent tactics exploit herd psychology and the celebrity effect, ultimately aiming to steal user assets or privacy data.
Countermeasure: Do not rely solely on social media comments to judge the legitimacy of an airdrop. Conduct thorough research on the token's background, verify if it is listed on reputable platforms, and obtain real user reviews through forums like Reddit or trusted crypto project Discord groups. Genuine quality projects will establish a transparent community ecosystem rather than relying on false hype to create buzz.
7. Unknown or Nonexistent Token Projects
Warning: Some fake airdrops promote links to unknown or entirely nonexistent projects. These types of projects often lack white papers, roadmaps, official websites, or verifiable team information. Scammers utilize these counterfeit tokens to deceive users into connecting digital wallets or authorizing transactions, ultimately stealing user funds.
Countermeasure: Before participating in an airdrop, be sure to conduct in-depth research on the token. Check the project's white paper, official website, team qualifications, and community activity. If the project lacks basic information, or has a very short establishment time without credible background, it is likely a fraudulent project.
8. Token Authorization Traps
Warning: Some fake airdrops induce users to connect wallets and grant token transfer permissions. These seemingly harmless 'authorization' actions may allow scammers to freely transfer or steal tokens without further user action based on the permissions they have obtained.
Countermeasure: Remain vigilant when approving token transactions (especially those involving unknown sources), avoid authorizing smart contract operations on untrusted websites, and regularly use tools like Revoke Cash to check and revoke unnecessary token authorization permissions.
9. Wallet Theft Program Redirection Traps
Warning: Some fake airdrop links may redirect users to a malicious DApp called 'wallet theft tool.' These sites are meticulously designed to mimic legitimate claim pages, but once users connect their wallets, they execute malicious smart contracts. Clicking 'Claim Airdrop' will lead users to unknowingly sign transaction authorizations, allowing attackers to obtain permission to transfer all user funds.
Countermeasure: Always carefully verify transaction pop-ups before signing. It is recommended to use browser wallets with built-in phishing protection (such as MetaMask) to stay informed about known scam domains. If the website displays unfamiliar information or triggers unexpected authorization requests, immediately disconnect your wallet.
10. Unrealistic Reward Promises
Warning: Fake airdrops often attract users with unrealistic promises, such as claiming 'immediately receive $2000 worth of free tokens with no effort required.' Such scams exploit people's greed and curiosity, luring users to connect digital wallets or sign transactions without careful verification.
Countermeasure: Be wary of exaggerated reward promises. Real airdrop activities typically offer moderate rewards and set certain participation eligibility requirements. If an airdrop opportunity seems too good to be true, it is likely a scam.
Fun Fact: In 2021, Ethereum Name Service (ENS) airdropped governance tokens to everyone who registered a .eth domain. Many ENS holders received tokens worth thousands of dollars just for owning a crypto domain.
Cases of Fake Airdrops
Here are some well-known cases of fake airdrops, aimed at helping you understand how these fraudulent tactics scam unsuspecting victims:
Hamster Kombat
Hamster Kombat is a Telegram-based earn-to-play game where players take on the role of a hamster CEO managing a virtual cryptocurrency exchange. Through clicking operations, completing daily tasks, and leveling up, players can earn HMSTR tokens, which can be exchanged for tradable tokens. The game quickly attracted over 250 million users after its launch in March 2024, but the ensuing scams targeting players raised security concerns.
Scammers are targeting Hamster Kombat, hoping to profit from the viral spread of this earn-to-play game. Kaspersky recently warned users to be cautious of fake Hamster Kombat airdrop activities, which aim to steal victims' cryptocurrency wallet login credentials.
Wall Street Pepe
Wall Street Pepe ($WEPE) is an Ethereum-based meme coin that cleverly combines internet meme culture with practical trading functions. The token's concept is derived from the classic Pepe combined with Wall Street financial trading, aiming to provide small traders with three core values: unique market insights, professional strategy analysis tools, and a community ecosystem for mutual growth.
The $WEPE airdrop scam lured users into connecting their wallets by mimicking the official website of a legitimate token and using airdrop promises as bait. Users unknowingly signed malicious contracts, resulting in asset theft.
HEX
HEX is a token built on Ethereum designed to help users profit from the growth of the crypto market through a system that supports token locking and regular staking.
This fraudulent webpage impersonates the official HEX website. The airdrop activity displayed is fake and unrelated to the real HEX project or any other legitimate program. When users connect their cryptocurrency wallets to this fake site, it triggers the activation of malicious contracts, enabling the cryptocurrency theft program to steal funds from the wallet.
Sui
Sui is a first-layer blockchain and smart contract platform designed for high speed, privacy, and accessibility, featuring a unique object-centric data model.
When users check airdrop eligibility on fraudulent webpages issued by scammers, the system prompts them to link their digital wallets. This operation signs malicious contracts without the users' knowledge, activating cryptocurrency theft programs. Subsequently, the victim's funds are automatically transferred to the scammers' control wallets through seamless unauthorized transactions.
LayerZero
LayerZero's airdrop adopts an innovative 'proof of donation' claiming mechanism. Unlike typical airdrops that directly distribute tokens for free, LayerZero requires users to donate $0.10 to the Protocol Guild (supporting Ethereum core developers) for each ZRO token.
In July 2023, security company CertiK warned users to be cautious of accounts impersonating Layer Zero on platform X that promote fake airdrop activities. When users click on the related links, they are directed to a phishing website mimicking the official LayerZero website.
How do crypto airdrops evolve from free distributions to secure community rewards?
Crypto airdrops are moving beyond simple token giveaways to adopt more advanced and secure strategies to attract user participation. Nowadays, project teams are increasingly launching user behavior-based airdrop mechanisms that reward users for contributions such as staking assets, testing applications, or participating in governance decisions. This shift aims to foster genuine community engagement while effectively curbing purely speculative arbitrage behaviors.
New token distribution models are gaining attention, such as snapshot-based token allocations and retrospective reward mechanisms. These innovative methods enhance transparency, ensuring that tokens accurately reach contributors who actively participate in community building. Meanwhile, the deep integration of artificial intelligence and machine learning technologies can effectively identify fake accounts, bot programs, and fraudulent activities, significantly enhancing the security protection level of airdrop activities and making the token distribution system more resistant to manipulation and trustworthy.
This shift reflects the evolution of responsible and efficient token distribution practices that align with the goals of decentralization and community empowerment.
