#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 is important to know the warning signs and protect your assets.
Warning Indicators
A domain that resembles the official one with a different letter or dot, or an expired SSL certificate.
Founders without a digital history or unreliable LinkedIn and GitHub pages.
Suspicious contracts, with the contract address not existing on Etherscan or having few transactions.
Unjustified approvals, such as an unlimited Approve request that 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. 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 Scams
Rug Pull where founders take the liquidity and disappear.
Phishing Airdrop with fake links asking to connect the wallet.
Fake Approvals stealing all assets after granting permissions.
Pump & Dump inflating the price and then dumping suddenly.
Example of avoiding a scam
A project requested a Swap with a fee of 0.0001 ETH, but the domain was unofficial and the contract was not on Etherscan, so I did not participate.
Always use a separate wallet for airdrops, set an Approve value, and use Revoke tools after transactions. Monitor Audit reports before participating. Set a gas limit to fail fraudulent transactions.
Good luck #AirdropSafetyGuide
