What are Scam Airdrops?

What are Scam Airdrops?

Airdrops are a common occurrence in the crypto space. New projects may airdrop tokens to people to convince them to join the community. Usually, airdrops are given to those who undergo the set of tasks assigned by the team.

Almost every new crypto startup hosts an airdrop as part of its marketing and awareness strategy. Unfortunately, while this may be genuine, some scammers also use airdrops to fleece people of their cryptocurrencies. In this case, scam crypto airdrops are designed to convince people to visit a phishing website.

It starts with scammers creating fictitious tokens and airdropping them in the investor’s wallet without being asked in some cases. Once done, the potential victim tries to convert the tokens to major cryptocurrencies and has to visit the website of the coins. In reality, that is a phishing site. Sometimes, the scammers may ask crypto enthusiasts to send major cryptos like the Ether, Bitcoin, or BNB to a wallet address if they want to convert or use the airdropped scam tokens. The unwitting victim does that and loses the coins in the process.

In other cases, the scammer may use a phishing technique to ask the user to connect their wallet to the website. Once done, they gain access to the cryptocurrencies in the wallet and wipe them out.

Before you claim any airdropped token, it is essential to consider this element to avoid being scammed. Do your due diligence. It is vital to check out the project and verify how genuine they are. A quick search about an excellent airdropped token can tell you if it is a scam or not. In addition, it is advisable to look up the founders, use cases, whitepaper, and other project fundamentals to avoid crypto airdrop scams.

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