Phishing and
Wallet Attacks in False Crypto Airdrop Scams
Phishing airdrops are only one of the many
methods used by cryptocurrency scammers to defraud you of your hard-earned
money. They are always coming up with new ways to accomplish this. A
significant portion of the cryptocurrency world consists of legitimate
airdrops, in which businesses give away free coins to their communities
primarily in order to promote new ventures and encourage trading. The
popularity of airdrops has, however, been exploited by scammers, who use a
variety of tricks to fool victims into believing they are receiving free money
in exchange for connecting to dangerous DApps (Decentralised Applications) or
disclosing their private crypto keys.
The two most
common airdrop scams currently are:
1. Airdrop fishing scams via email and social
media messages.
2. Scam airdrops in self-custody crypto hardware
and software wallets.
Airdrop
phishing scams
Phishing is a
long-established route for fraudsters and scammers to trick people into parting
with sensitive information and its not different with airdrops. This often
takes the form of a malicious link embedded in an email or social media message
which, when clicked, takes the user to a fake website which claims to offer an
airdrop. Once the user is on the website a couple of things may happen: Either
they’ll be prompted to connect their cryptocurrency wallet to a malicious DApp or reveal their mnemonic seed phrase or
private keys in order to claim the non-existent tokens. If they connect to the DApp a malicious
smart contract will open up access to the user’s wallet meaning the scammers
can drain all the funds it contains.
ammers also use
newly created, worthless cryptos deposited in the user’s wallet to give the
impression that funds are still present. The scammers can continue to drain any
funds that go into the victim’s wallet until the malicious DApp’s permissions
are cancelled. Some fake airdrop websites claim that the user needs to enter
the private key or seed phrase to their wallet in order to make their claim.
However, anyone with this information can potentially gain access to any crypto
held on the wallet they relate to. It’s a golden rule in crypto to never reveal
your private keys to anyone. Other DApps trick users into allowing unlimited
token approvals which allow the scammers to move your crypto at will and
transfer it to wallets they control.
“If you’ve
been ensnared by this hoax, it’s crucial to know that Digital
Currency Reclaim (DCR), a
specialized firm, is here to help. We specialize in recovering funds lost to
fraudulent cryptocurrency schemes, including fake airdrop scams. Our expert
team excels in navigating the complexities of the cryptocurrency market,
leveraging blockchain technology to trace transactions and locate diverted
funds. With a profound understanding of cryptocurrency law, we adeptly navigate
legal channels to maximize fund recovery for our clients. Trust Our Crypto to
guide you through the process and reclaim what’s rightfully yours. Contact us
today for personalized assistance and swift resolution.”
Scam wallet
airdrops
Another method of
tricking people into connecting to malicious DApps is by sending fake airdrops
directly to self-custody crypto wallets, either software or hardware, even
though the user has never invested in the coins before. When the user opens
their wallet, they’ll see what appears to be a new crypto balance relating to a
token they don’t recognize. If they click on it, they’ll be given details
of how to claim the ‘coins’ which will either involve visiting a fake site or
connecting to a malicious DApp. Either way, the aim of the scammers is to
gain control over a user’s wallet before draining it of all the crypto it
contains. If you find an airdrop in your wallet relating to a token you’ve
never owned and have no knowledge of, do not click on it or interact with it in
any way, however tempting it might seem. Trezor, one of the largest
manufacturers of crypto hardware wallets in the world has a page dedicated to
wallet airdrop scams.
Fake airdrop
security
A golden rule
with crypto is to never give anyone access to your private keys or seed phrase
no matter what the circumstances. Anyone who asks you for this will be a
scammer intent on stealing your coins so never, ever reveal this information no
matter how tempting an offer may be. Also, it’s vital that you do your own
research relating to any airdrop you see. Genuine developers want as many
people as possible to know about their project so there should be a plethora of
information floating about online which proves it’s genuine.
“Digital
Currency Reclaim (DCR)
conducts comprehensive investigations to swiftly uncover scam perpetrators.
Leveraging advanced techniques such as blockchain analysis and IP tracking, DCR
traces fund flows with precision. Once culprits are pinpointed, DCR adeptly
negotiates for fund recovery, employing legal acumen and cryptocurrency market
expertise for optimal results. Throughout the process, DCR offers unwavering
client support, keeping them updated and advising on strategic actions. Beyond
recovery, DCR empowers clients with essential scam prevention insights,
equipping them to safeguard assets from future threats. As a trusted ally for
victims of fake airdrop scams, DCR delivers unmatched expertise, ensuring swift
fund restitution and long-term security.”
Never connect
your wallet to a DApp or website that you’re not 100% sure about even though
it’s sometimes difficult to spot the scam platforms. If you can’t verify the
origins of a platform do not grant it any permissions or enter any information
relating to your crypto assets.
