08/06/2025
In 2024 and 2025, fake airdrop scams targeting Hamster Kombat, Wall Street Pepe, and others led to losses of millions for users, contributing to global cryptocurrency scam damages exceeding $9.9 billion.
Fake airdrops impersonate legitimate projects, tricking users into revealing their private keys, signing malicious contracts, or paying upfront fees that lead to irreversible cryptocurrency theft.
Warning signs include the absence of an official announcement, suspicious URLs, requests for private keys, grammatical errors, and unrealistic reward promises.
Future airdrops are shifting to activity-based models, retroactively monitored by AI, rewarding genuine user interaction while limiting exploitation.
While cryptocurrency airdrops are a legitimate way for projects to gain publicity and users, scammers exploit this hype, draining wallets through fake campaigns. In 2024 and 2025, fake airdrops around projects like Hamster Kombat and Wall Street Peepe will cost victims millions of dollars. According to Chainalysis, the projected global losses in 2024 from cryptocurrency-related scams, including fake airdrops, will amount to at least $9.9 billion.
Monitoring warning indicators is crucial for preventing fake airdrops. This article explores the main warning signs and practical tips for protecting your funds.
What are fake airdrops?
Airdrop is a common practice for distributing free tokens in the cryptocurrency world, as part of marketing campaigns, user acquisition efforts, or community-building activities. Legitimate airdrops reward early participants, increase token visibility, or enhance network activity. Obtaining the airdrop requires minimal effort, such as signing up, joining a community, or holding a specific token.
However, the popularity of airdrops has also attracted scammers. They exploit users' greed and curiosity by promising free tokens (fake airdrop) in exchange for sensitive actions like sharing private keys, signing malicious contracts, or paying gas fees. Scammers may impersonate legitimate projects using fake domains or fake social media accounts.
These scams often appear convincing, and even experienced users can fall victim to them. That's why constant caution is necessary when receiving an airdrop.
Did you know? In 2023, Inferno Drainer helped scammers steal over $80 million through phishing campaigns via airdrop operations. It operates as a 'bank as a service', allowing partners to use ready-made kits to run fraudulent airdrop sites, targeting wallets across multiple blockchains.
Key warning signs revealing 'fake airdrops'.
Before participating in an airdrop, learn how to spot warning signs. These warning signs are your first line of defense against losing your cryptocurrency or sensitive information to scammers:
1. Lack of official announcements from verified channels.
What to watch out for: One of the main warning signs of fake airdrops is the lack of any announcement on the project's official communication channels. Scammers often use unsolicited direct messages, unofficial Telegram groups, or poorly designed websites that mimic official sites to promote fake airdrops.
How to avoid this: Always verify the legitimacy of airdrops by checking the project’s official website, verified X account, or official Discord/Telegram channels before clicking on any links. If the airdrop is not mentioned there, steer clear of it.
2. Requesting a private key or recovery phrase.
What to watch out for: One of the main warning signs of fake airdrops is requesting 'verification' of your wallet by providing your private key or recovery phrase. These scams trick users into relinquishing full control of their cryptocurrency wallets by pretending to verify eligibility. Once shared, scammers can steal all assets immediately. How to avoid this: Genuine airdrops do not ask for your private key or recovery phrase, which should always remain confidential. If anyone or any website requests this information, it is a clear scam. Close the page immediately.
3. Upfront gas fees or cryptocurrency payments.
What to watch out for: One of the main warning signs of fake airdrops is that they require upfront gas fees or cryptocurrency payments to 'unlock' tokens. Scammers often insist on sending Ethereum ETH $2,527 or other coins to receive rewards, but after payment, the promised tokens never arrive, and your money is lost.
How to avoid this: Legitimate airdrops are free and usually involve simple tasks like linking a wallet or completing straightforward actions. If an airdrop requires any payment, it is likely a scam. Never send money to unfamiliar addresses.
4. Suspicious URLs or cloned sites.
What to watch out for: Fake airdrops often use phishing sites that resemble legitimate cryptocurrency platforms. These sites aim to trick users into linking their wallets and signing fraudulent transactions. How to avoid this: Carefully verify the project’s URL before executing any transactions on it. There are likely to be slight differences, such as spelling errors, extra characters, or alternative domain extensions.
Did you know? Some airdrops use retroactive criteria, rewarding users based on their previous activity. This encourages organic participation before the airdrop announcement, so simply using decentralized applications normally may make you eligible for free tokens in the future.
5. Poor grammar and urgent language:
What to watch out for: Many fake airdrops feature poor grammar or spelling mistakes or aggressive phrases like 'Claim now or you’ll miss out!' or 'Last chance to get free tokens!'. These tactics aim to incite panic, pushing users to click harmful links without careful consideration. Inaccurate writing and excessive urgency are clear indicators of a scam.
How to avoid this: Legitimate cryptocurrency projects communicate professionally and clearly. If the airdrop announcement contains errors or uses urgent time-sensitive language, steer clear of it. 6. Fake social proof or bot comments.
What to beware of: Scammers frequently use fake airdrop posts filled with false social proof, such as comments like 'I just got $500 XYZ!' or 'Completely trustworthy!'. These comments are often posted by bots or fake accounts to create a false sense of trust and encourage participation. They may also use fake or hacked celebrity accounts to spread false information about airdrops.
How to avoid this: Avoid relying solely on social media comments to determine the legitimacy of an airdrop. Thoroughly research the token, ensure it is listed on reliable platforms, and seek trusted user opinions in forums like Reddit or reputable cryptocurrency Discord groups. Real projects maintain transparent communities, not just fake hype.
7. Unknown or non-existent token projects:
What to watch out for: Some fake airdrops promote tokens associated with obscure or non-existent projects, which may lack a white paper, roadmap, official website, or trustworthy team. Scammers use these fake tokens to trick users into linking their wallets or approving transactions that lead to fund theft.
How to avoid this: Always research the token thoroughly before participating in an airdrop. Check for a white paper, an official website, team credentials, and active community presence. If the project lacks essential details or seems suspiciously new without a reliable background, it is likely a scam.
8. Token approval traps:
What to watch out for: Some fake airdrops entice users to link their wallets and grant spending permissions for tokens. Seemingly innocent 'approval' requests can allow scammers to freely transfer or drain your tokens without any further interaction, exploiting the permissions granted. How to avoid this: Exercise caution when approving token transactions, especially from unfamiliar sources. Avoid delegating smart contract interactions on untrustworthy websites. Regularly use tools like 'revoke.cash' to check and revoke unnecessary token approvals.
9. Redirects to malicious sites to drain wallets.
What to beware of: Some fake airdrop links redirect users to malicious decentralized applications known as 'wallet drainers'. These sites are designed to mimic official claim pages, but they execute malicious smart contracts as soon as the wallet connects. By clicking 'Claim airdrop', users unknowingly sign transactions that grant scammers full access to their funds.
How to avoid this: Always review transaction pop-ups carefully before signing. Use browser wallets like MetaMask equipped with built-in phishing protection and stay informed about known scam sites. If the site seems unfamiliar or leads to unexpected approvals, disconnect immediately.
10. Unrealistic reward promises.
What to watch out for: Fake airdrops often lure users with unrealistic promises, such as 'Get $2000 in free tokens instantly!' with little to no effort required. These offers exploit greed and curiosity, enticing users to link their wallets or sign transactions without sufficient scrutiny.
How to avoid them: Beware of outrageous claims. Legitimate airdrops typically offer modest rewards and require specific eligibility criteria. If the offer seems too good to be true, it is likely a scam.
Did you know? In 2021, the Ethereum Name Service (ENS) granted $20.97 in governance tokens via an airdrop to anyone who registered a .eth domain name. Many ENS holders received thousands of dollars simply for owning a cryptocurrency domain name.
Examples of fake airdrops:
Here are some examples of famous fake airdrops to help you understand how these fraudulent acts deceive unsuspecting victims:
Hamster Combat:
Hamster Combat is a Telegram-based game where players run a virtual cryptocurrency trading platform as hamster executives. By clicking, completing daily tasks, and upgrading, players earn HMSTR coins, which are convertible into tradeable tokens. The game launched in March 2024, attracting over 250 million users, but scams targeting players have raised concerns.
Malicious actors targeted Hamster Combat to exploit the massive popularity of the click-to-earn game. Kaspersky warned users about fake airdrops for Hamster Combat, which aimed to steal victims' cryptocurrency wallet credentials.
