Crypto Airdrop Scams: How to Keep Your Wallet Safe
The hype is high whenever a new cryptocurrency is launched. Crypto enthusiasts are curious to learn more about the new coin and add it to their portfolios.
Fear of Missing Out is a huge motivator in the crypto space. During the Initial Coin Offering(ICO) phase, people hurry to get their hands on the newest, shiniest coins. Scammers are aware of this behavior and aren’t shy about exploiting it. Crypto scams are on the rise simply because criminals go where the money is.
Crypto Airdrop Scam Variations
The modus operandi described above is one of the most common tactics used by scammers. However, there are other variations of this fake crypto giveaway that you should be aware of.
Donations and Random Draws
Some scammers may ask for donations in exchange for more crypto coins. Unfortunately, these pitches are compelling, promising more cryptocurrencies than your initial investment.
Other scammers will prompt you to fill out a form to enter a particular contest or random draw that allows you to win additional coins. Of course, this is all done to collect more information about your wallet. Scammers use it to gain access to your funds or sell it on the black market.
Be skeptical of unsolicited offers for donations or contents and don’t share your wallet information with anyone.
Gift Tokens
Other scammers will send you gift tokens to spark your curiosity. But there’s a catch: to claim them, you must visit a fake website specially crafted to steal sensitive information about your crypto wallet.
The fake sites will ask you to approve a transaction request on your wallet. When you validate the request, you’re actually giving that website access to unlimited token approvals. When you do that, you not only let that website transfer tokens into your account, but you also permit it to take tokens.
