What are airdrop scams?
In the dynamic world of cryptocurrencies, it is crucial to be aware of the potential dangers that may threaten your assets. Airdrops have become a popular way to distribute tokens to users of crypto projects, but not everything free is safe. In this article, we will take a detailed look at the types of scams and how to avoid them.
Cryptoairdrop is an advertising initiative of companies or startups to popularize their project. They contribute a small amount of virtual currency to the user's wallet for free or in exchange for small favors like retweeting or sharing a post announcing the distribution.
Airdrops are public campaigns designed to spread awareness of the platform and encourage adoption of new tokens or coins. Promotion of such events is usually carried out on the company's official website, social networks or forums.
Airdrop scams are schemes designed to defraud cryptocurrency holders by offering a false distribution of tokens or coins. Scammers take advantage of the hype surrounding new DeFi projects and protocols. Fraudsters often target crypto-investors, luring them with free tokens in the hope that they will connect digital wallets to malicious websites, send funds, or provide personal information.
To avoid losing your assets, check out common airdrop scams.
Phishing links to exchanges in search engines
Fake exchanges are very similar to the original ones. At first glance, they may seem identical, but their purpose is to steal users' funds. Links to such phishing sites can be placed through search engine advertising. They are usually barely modified, just one wrong letter in the name and the user is already following a fake link. In the fake site, investors connect their wallet or provide private keys to get free coins or tokens and fall into the trap, losing their assets.
To avoid accidentally using a fraudulent exchange, you can add a real address to your bookmarks and check it before logging into your account. Binance Verify helps determine the legitimacy of URLs, Telegram groups, or Twitter accounts associated with Binance.
Deceptive airdrop advertising on social networks
Another example of fraud is fake profiles on social networks. Scammers copy the account appearance of famous people or reputable platforms in the crypto space and try to deceive investors by promoting fake airdrops. They may use a similar profile picture, name, or website address to trick users into thinking it's a real account. The posts of such accounts advertise coin giveaways with links to phishing sites.
In order not to become a victim of this type of fraud, you must:
Carefully check the official profile of the project and the presence of announcements about airdrops.
Pay attention to indicators of user verification, for example, blue ticks on Twitter and Facebook and the correlation of the official name of the project with other information on the page. Real links to social networks can be found on the project website.
Do not trust any advertisement that has not been verified by real representatives of the platform.
Do not follow any instructions that are suspicious or unreasonable.
Fake coins and NFTs
In this airdrop scam, scammers send fake coins or NFTs (non-fungible tokens) directly to an event attendee's wallet, along with instructions on how to claim the reward. These assets often have names similar to real projects, but with slight differences or typographical errors. Fake NFTs have zero value and are only a means to convey the message of the fake winnings and conditions for winning. The non-fungible token or its metadata contains instructions that direct the user to a malicious site. Next, the airdrop participant is offered to sign a malicious transaction that can empty the entire digital wallet or only individual assets.
To avoid coin airdrop or NFT scams, follow these guidelines:
Do not interact with tokens of unknown origin that appeared in your account.
Do not go to unknown sites from the link in the image of the NFT or its description.
Analyze the offer wisely, especially if it is very attractive. Scammers can promise anything to lure them into a trap.
Do not provide passphrases for wallet recovery and do not make suspicious transactions.
Data-stealing viruses
Installing unlicensed software and downloading torrents increases the risk of getting a virus that can steal data from your computer. The same applies to unofficial applications in web browsers. When copying the wallet address to send tokens, this virus will automatically substitute another fraudulent link to which you can mistakenly send funds.
In order to avoid data-stealing viruses, you must:
Pay attention to the software that is installed on the device.
Avoid downloading unverified torrents, as they often contain harmful viruses.
Use an antivirus.
Regularly update the operating system of the device.
Fake emails
One common scam is to send emails that look like those from a popular exchange. The message says that you have won an airdrop and you need to verify your account in order to receive the funds. However, if you look closely, you may notice that the email address is not official, or the link in the email leads to a phishing website.
Another popular fraudulent technique associated with e-mails is authorization from a new device. Usually, scammers insist on urgent measures to protect the account, for example, to follow a link to confirm that it is the profile owner who is trying to access the platform, reset the password or download documents. In most cases, their goal is to collect data to try to hack an account through an infected file or by clicking on a link that leads to a fake site.
In order not to fall for these scams, follow a number of rules:
Check on the exchange in the verification section whether the address in the letter really belongs to the platform.
Check for spelling mistakes or unusual characters by hovering over the email.
Do not click on links or attachments in the message. Do not enter login details or personal information on websites that you are not sure of.
Private messages from fake representatives of crypto projects
There are common cases when users join the Telegram or Discord chats of a certain crypto platform and clarify some information. Some unknown person immediately writes to them in private messages (direct messages), introducing himself as a member of the project team. Such scammers offer help in solving airdrop problems in exchange for access to user data.
Remember that real project representatives will never be the first to write in personal messages. They will only respond to inquiries or complaints through their official channels such as website, email or social media accounts. If you have any difficulties, contact the project's customer support service.
Visnovok
Airdrops are a great way to gain access to new crypto projects and tokens, but they also come with risks and challenges. Sometimes it is difficult to distinguish real coin distributions from fake ones, which even experienced investors fall victim to. To avoid airdrop scams, check official sources. Don't click on any links or download apps you aren't sure about, and don't share your personal information or wallet details with anyone.