What it is:
Airdrop scams are the new edition of phishing. The goal is the same- to steal your personal information so they can exploit it, but the method is slightly different. A crypto airdrop will drop a free token directly into a user’s wallet to build awareness and hype around a project. They’re attractive because they require little effort to redeem and they could result in a big return. When legitimate, airdrops can be an opportunity. When fake, airdrops can result in the theft of your digital wallet.
How to avoid it:
- Be suspicious of unsolicited airdrop offers or tokens that suddenly appear in your wallet. Never claim a token without research and confirmation that the project is real
- Avoid signing transactions you don’t understand, especially ones that give permission to access your wallet or tokens
- Just like phishing, check URLs and never give out your private key or seed phrase
- Never send upfront payments to unlock the token. This is a major red flag that the token is connected to fraudulent activities
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