👉 How to avoid crypto airdrop scams? 😳
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It is a simple rule of thumb that nothing comes for free. If users are receiving free crypto tokens with minimal effort, it is likely to have some risks involved. Therefore, it is essential to DYOR before you sign up for a crypto airdrop that requires you to connect your wallet to a website.
Phishing scams are fairly common with crypto airdrops. Here, scammers use fake airdrop links that lead users to a bogus website. If you connect your wallet to this website, you will lose all its content. Scamsters are clever, but you can outsmart them by simply checking a project’s certified handle to ascertain if they have announced airdrops.
Scamsters come in many shapes and sizes. They use phishing emails or direct messages frequently. These require users to transfer tokens to an unknown crypto wallet to claim the airdrop. However, genuine airdrops never come with such conditions attached. Always play it safe and avoid sharing funds or your seed phrase.
Dusting attack is another type of crypto-airdrop scam, where the attacker will transfer a small amount of crypto—called dust—to an inactive user. The hacker invades the user’s privacy by tracking down the wallet’s transaction activity and token distribution, exposing the individual or entity using the wallet.
Conclusion:
Crypto airdrop is a trending marketing technique to create a buzz amongst the crypto community. Nevertheless, most of these end up as pump-and-dump schemes, where creators issue tokens only for airdrops. The idea is to create enough hype around the token to list it on an exchange. Once these tokens are listed and priced at a considerably high amount, creators sell their sizable portion, leading to a crash in the price of the token for the remaining holders. While airdrops are a great way to market a project by giving back to the community, it is advisable to tread cautiously.
