Key points
In 2024 and 2025, fake airdrop scams targeting projects like Hamster Kombat and Wall Street Pepe caused user losses of millions of dollars, resulting in global cryptocurrency fraud losses exceeding $9.9 billion.
Fake airdrops impersonate legitimate projects to deceive users into revealing private keys, signing malicious contracts, or paying upfront fees, leading to stolen funds that cannot be recovered.
Danger signals include the absence of official announcements, suspicious URLs, requests for private keys, syntax errors, and unrealistic return promises.
Future airdrops are gradually shifting towards activity-based, retroactive, and artificial intelligence monitoring models, aimed at rewarding genuine user participation while reducing cheating behaviors.
Although crypto airdrops are a legitimate means for project parties to gain exposure and users, scammers are exploiting this trend to steal user assets through counterfeit 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. Data from blockchain analysis firm Chainalysis indicates that estimated losses from global cryptocurrency fraud and scams (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 techniques to help you effectively protect your asset safety.
What are fake airdrops?
Airdrops are a common free token distribution method in the crypto market, often part of marketing campaigns, user growth strategies, or community building plans. Legitimate airdrops create value by rewarding early participants, enhancing token visibility, or incentivizing online participation. Users typically only need to complete simple tasks like following on 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, promising token giveaways (fake airdrops) to entice users to perform sensitive actions, such as sharing private keys, signing malicious contracts, or paying gas fees. Fraudsters may impersonate real projects and use counterfeit domain names or fake social media accounts to deceive users.
These scams often look very convincing, and even experienced users may fall for them. Therefore, it's essential to remain vigilant when claiming airdrops.
Did you know? In 2023, the phishing tool Inferno Drainer helped scammers steal over $80 million through counterfeit airdrop activities. This tool operates in a 'phishing as a service' model, providing partners with pre-built phishing kits to set up fake airdrop websites targeting digital wallets across multiple blockchains.
Identifying key danger signals of '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 released formal announcements
Warning: A major warning signal for identifying fake airdrops is that the project's official communication channels have never released any relevant announcements. Scammers often promote fake airdrop activities through methods like actively sending private messages, creating unofficial Telegram groups, or building shoddy imitation websites of legitimate projects.
Countermeasures: Before clicking any links, be sure to verify the airdrop's authenticity by checking the project's official website, verified X accounts, or official Discord or Telegram channels. If official channels do not mention the airdrop, stay away.
2. Private key or seed phrase 'verification' requests
Warning: A key danger signal of fake airdrops is requesting you to provide your private key or seed phrase to 'verify' your wallet. These scams disguise themselves as eligibility verification processes to trick users into relinquishing complete control of their cryptocurrency wallets. Once the private key or seed phrase is leaked, scammers can immediately steal all assets in the wallet.
Countermeasures: 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 clearly a scam. Please exit the relevant page immediately.
3. Prepaying gas fees or cryptocurrency payments
Warning: A significant danger signal of fake airdrops is requesting users to prepay gas fees or cryptocurrency payments to 'unlock' tokens. Scammers often insist on requiring you to send ETH or other cryptocurrencies to claim rewards, but after payment, the promised tokens will never arrive, and your funds will be lost.
Countermeasures: Legitimate airdrops are always free and typically only require completing basic tasks like 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 copycat websites
Warning: Fake airdrops often utilize phishing websites that impersonate legitimate projects to deceive users. These sites aim to lure users into connecting wallets and signing fraudulent transactions.
Countermeasures: Before engaging in transactions for a project, you must carefully verify the project's URL link. Fake links often have subtle differences, which may include spelling errors, extra characters, or different domain suffixes (e.g., replacing .com with .net).
Fun fact: Some airdrop projects adopt retroactive standards, distributing rewards based on users' past activity levels. This mechanism incentivizes users to engage in ecosystem building even before the airdrop announcement, so simply using DApps naturally may qualify them for receiving free tokens in the future.
5. Syntax errors and urgent language
Warning: Many fake airdrop activities may contain syntax errors, spelling issues, or use urgent slogans like 'Claim now, or miss out!' or 'Last chance for free tokens!' These tactics aim to create FOMO and encourage users to click malicious links without thinking. Poorly expressed text and deliberately created urgency are key signals for identifying scams.
Countermeasures: Legitimate crypto projects communicate in a professional and clear manner. If an airdrop announcement contains errors or uses urgent language, stay away.
6. Fake social behavior or bot comments
Warning: Scammers often use fake social behavior to fabricate airdrop posts, such as comments like 'I just received 500 $XYZ!' or 'Absolutely reliable!' These contents are typically published by bots or fake accounts, aiming to create a credible illusion to lure users into participation. They may also impersonate celebrity accounts or create high-fidelity fakes to spread false airdrop information through counterfeit authoritative endorsements. These fraudulent tactics exploit herd mentality and celebrity effects, ultimately aiming to steal users' assets or private data.
Countermeasures: Do not rely solely on social media comments to determine whether an airdrop is legitimate. Conduct in-depth research on the token's background, verify if it is listed on reputable platforms, and gather genuine user reviews through forums like Reddit or trusted crypto project Discord groups. Truly quality projects will establish a transparent community ecosystem rather than rely on false hype to generate buzz.
7. Unknown or non-existent token projects
Warning: Some fake airdrops promote links to unknown or non-existent projects, which often lack white papers, roadmaps, official websites, or verifiable team information. Scammers exploit these counterfeit tokens to deceive users into connecting digital wallets or authorizing transactions, ultimately stealing users' funds.
Countermeasures: Before participating in an airdrop, be sure to conduct thorough research on the token. Check the project white paper, official website, team qualifications, and community activity. If the project lacks basic information, or has been established for too short a time with no credible background, it is likely a fraudulent project.
8. Token authorization traps
Warning: Some fake airdrops will entice users to connect wallets and grant token transfer permissions. These seemingly harmless 'authorization' actions may allow scammers to freely transfer or steal tokens without requiring further user action, using the permissions they have acquired.
Countermeasures: Be vigilant when approving token transactions, especially those involving unknown sources, avoid authorizing smart contract operations on untrustworthy websites, and regularly use tools like Revoke Cash to check and revoke unnecessary token authorization permissions.
9. Redirect traps for wallet theft programs
Warning: Some fake airdrop links will direct users to malicious DApps known as 'wallet theft tools.' These sites are carefully designed to mimic legitimate claiming pages, but when users connect their wallets, they execute malicious smart contracts. Once 'claim airdrop' is clicked, users will unknowingly sign transaction authorizations, allowing attackers to gain the right to transfer all of the user's funds.
Countermeasures: Always double-check the transaction pop-up window before signing. It is recommended to use a browser wallet with built-in phishing protection (like MetaMask) and stay informed about known scam domains. If the website displays unfamiliar information or triggers unexpected authorization requests, immediately disconnect the wallet.
10. Unrealistic reward promises
Warning: Fake airdrops often attract users with unrealistic promises, such as claiming 'Receive $2000 worth of free tokens immediately with no effort required.' These scams exploit people's greed and curiosity, luring users to connect digital wallets or sign transactions without careful checks.
Countermeasures: Be wary of overly exaggerated reward promises. Real airdrop activities typically offer moderate rewards and set certain participation eligibility requirements. If an airdrop opportunity seems too good to be true, it is likely a scam.
Fun fact: In 2021, the Ethereum Name Service (ENS) airdropped governance tokens to everyone who registered a .eth domain. Many ENS holders received tokens worth thousands of dollars just for owning a crypto domain.
Cases of fake airdrops
Here are some well-known fake airdrop cases aimed at helping you understand how these scams deceive unsuspecting victims:
Hamster Kombat
Hamster Kombat is a Telegram-based money-making game where players take on the role of hamster CEOs managing a virtual crypto exchange. Through click operations, completing daily tasks, and leveling up, players can earn HMSTR tokens, which can be exchanged for tradable tokens. The game quickly attracted over 250 million users after its launch in March 2024, but the subsequent scams targeting players have raised security concerns.
Scammers have targeted Hamster Kombat, attempting to profit from the viral popularity of this money-making game. Kaspersky recently warned users to be on guard against fake Hamster Kombat airdrop activities, which aim to steal victims' cryptocurrency wallet login credentials.
Wall Street Pepe
Wall Street Pepe ($WEPE) is a meme coin based on Ethereum that cleverly merges internet meme culture with practical trading functions. The token's concept is inspired by 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.
$WEPE airdrop scam lures users to connect their wallets by mimicking the official website of legitimate tokens, using the promise of airdrops as bait. Users unknowingly sign malicious contracts, ultimately leading to 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 mimicked the official HEX website. The airdrop activity it presented is fake and has no connection to the real HEX project or any other legitimate plan. When users connect their cryptocurrency wallets to this fake site, it triggers the activation of malicious contracts, allowing cryptocurrency theft programs to steal funds from the wallet.
Sui
Sui is a first-layer blockchain and smart contract platform designed for speed, privacy, and accessibility, featuring a unique object-centric data model.
When users check airdrop eligibility on a fraudulent webpage posted by scammers, the system prompts them to associate their digital wallets. This action unknowingly signs a malicious contract, enabling cryptocurrency theft programs. Subsequently, the victim's funds are automatically transferred to a wallet controlled by the scammers through seamlessly connected unauthorized transactions.
LayerZero
LayerZero's airdrop employs 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, which supports Ethereum core developers, for each ZRO token.
In July 2023, security company CertiK warned users to be cautious of accounts impersonating LayerZero on platform X that promoted fake airdrop activities. When users click on related links, they are directed to a phishing site that mimics the official LayerZero website.
How did crypto airdrops evolve from free distributions to secure community rewards?
Crypto airdrops are moving beyond simple token giveaway models to adopt more advanced and secure strategies to attract user participation. Nowadays, project parties increasingly launch user behavior-based airdrop mechanisms, rewarding users for contributing actions such as staking assets, testing applications, or participating in governance decisions. This shift aims to nurture genuine community engagement while effectively curbing speculative behaviors centered solely on arbitrage.
New token distribution models are gaining attention, such as snapshot-based token allocation and retroactive reward mechanisms. These innovative methods enhance transparency and ensure tokens accurately reach contributors actively involved in community building. Meanwhile, the deep integration of artificial intelligence and machine learning technology can effectively identify fake accounts, bot programs, and fraudulent activities, significantly improving the security level of airdrop activities, making the token distribution system more resistant to manipulation and credible.
This transformation reflects the evolution of responsible and efficient token distribution practices aligned with decentralized and community empowerment goals.
This article is a cooperative reprint from: PANews
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