In recent weeks, the crypto world has seen a surge in the number of airdrop scams, with the BLUR airdrop scam being the most recent and costly.
According to TrustCheck, a security extension for Web3 browsers, over $300,000 worth of funds have been stolen from unsuspecting users who have linked their wallets to malicious websites.
In this blog post, we’ll take a closer look at the BLUR airdrop scam and discuss how you can protect yourself from similar scams in the future.
What is BLUR?
BLUR is a relatively new player in the NFT (non-fungible token) marketplace space, having launched in October 2022. It’s a blockchain-based platform that enables users to create, buy, and sell NFTs. NFTs are unique digital assets that are verified on a blockchain, making them rare and valuable.
BLUR has been making waves in the industry with its booming user numbers and trading volume, thanks in part to its three-phase airdrop incentive scheme. The scheme was designed to encourage users to engage with the platform and help it gain traction in the market.
The first airdrop was retroactive, awarding tokens to anyone who had traded an NFT on Ethereum in the six months leading up to the platform’s launch. The second airdrop awarded tokens to users who listed NFTs on the platform before December 6, 2022, while the third awarded tokens to users placing bids on the platform after the feature went live.
This airdrop scheme has been successful in attracting users to the platform, with many users looking to claim BLUR tokens across the NFT ecosystem. Unfortunately, scammers have taken advantage of this by promoting fake airdrop links to malicious websites, which have resulted in the loss of significant amounts of money.
About BLUR’s three-phase airdrop scheme
BLUR’s three-phase airdrop incentive scheme was designed to reward early adopters and incentivize engagement with the platform. The three phases of the airdrop were as follows:
- Retroactive Airdrop: The first airdrop was retroactive and awarded tokens to anyone who had traded an NFT on Ethereum in the six months leading up to the platform’s launch. This was a way to reward early adopters who had already been active in the NFT marketplace.
- Listing Airdrop: The second airdrop awarded tokens to users who listed NFTs on the platform before December 6, 2022. This encouraged users to create and list NFTs on the platform, which in turn helped to build the platform’s content and user base.
- Bidding Airdrop: The third airdrop awarded tokens to users placing bids on the platform after the feature went live. This incentivized engagement with the platform’s auction feature and helped to drive trading activity on the platform.
How the BLUR Airdrop Scam Works?
The BLUR Airdrop Scam works by tricking users into thinking they can claim BLUR tokens by providing their wallet address and other sensitive information to fake airdrop websites. The scam typically starts with a promotion or announcement of a BLUR airdrop on social media or other online platforms.
The scammers will create fake airdrop websites that closely mimic the look and feel of the legitimate BLUR platform. These websites will often use similar branding and language, making it difficult for users to tell the difference between the real and fake sites.
Once a user visits a fake airdrop website and enters their wallet address or other sensitive information, the scammer gains access to their wallet and can steal any funds held in the wallet. In some cases, the scammer may use a smart contract to automatically drain the wallet’s funds to a specific address.
TrustCheck has identified 24 different scam websites that have been used to perpetrate the BLUR airdrop scam.
How to Protect Yourself from Airdrop Scams?
Airdrop scams are a growing concern in the cryptocurrency world, with scammers constantly devising new ways to trick users into giving away their sensitive information.
Here are some tips on how to protect yourself from airdrop scams:
To protect yourself from falling victim to the BLUR Airdrop Scam, users should exercise caution when clicking on links to airdrop promotions or giveaways.
They should verify the legitimacy of the website and promotion before providing any sensitive information, and use tools like TrustCheck to flag suspicious websites and transactions.
Additionally, users should be wary of any promotions or giveaways that seem too good to be true, as scammers often use these tactics to lure in victims.
It’s important to remember that legitimate cryptocurrency projects will never ask for sensitive information like private keys or seed phrases, and users should never share this information with anyone.
By following these tips, you can protect yourself from falling victim to airdrop scams and keep your cryptocurrency and personal information safe. Remember, it’s always better to be safe than sorry when it comes to protecting your assets in the cryptocurrency world.
About Bitcoin world trading: Bitcoin trading refers to the buying and selling of Bitcoin in order to make a profit from the volatile fluctuations in its price.
- Beware of these 8 cryptocurrency scams
- How to Enter a Dimension of the NFT Marketplace Websites
- Premier League Goes Crypto with NFT Deal: Future of Sports & Blockchain
- NFTs And Their Role In The Future Of Gaming
- Don’t Get Hacked: Tips to Protect Your Cryptocurrency from Hackers
- Is it Safe to Keep your Bitcoins in Crypto Exchanges
- Choosing a Cryptocurrency Trading Platform: 9-Step Guide