Scammers continue to take advantage of non-fungible token (NFT) users seeking to claim Blur (BLUR) token airdrops through numerous fake websites.
According to TrustCheck data, more than $300,000 has been stolen from unsuspecting users who have linked their wallets to malicious websites.
Legitimate platform Blur is a newcomer to the NFT market, making waves in the industry thanks to booming user numbers and trading volume stemming directly from the platform’s three-phase incentive program. 10% of Blur’s total token supply was distributed to users based on their trading activity in its second token airdrop program starting on February 15.
The first airdrop was retroactive, awarding tokens to anyone who had traded an NFT on Ethereum in the six months prior to the platform’s launch in October 2022. The second airdrop awarded tokens to users who traded NFTs before December 6, while that the third party awarded tokens to users who placed bids on the platform after the feature went live.
Given the mechanics of the incentive program, many users have sought to claim BLUR tokens throughout the NFT ecosystem. This created an opportunity for scammers to promote fake airdrop links to malicious websites.
Data provided to Cointelegraph by TrustCheck, the Ethereum-based Web3 browser security extension, reveals that more than $300,000 worth of funds have been stolen from 24 different fraudulent websites since February 15. Some of these websites are still running, and users are warned to be careful when connecting their wallets.
Websites use smart contracts that automatically trigger transactions when users connect their Ether (ETH) wallets. All of the ETH in the wallet is then drained to a specified address, which has allowed TrustCheck to monitor the number of funds stolen to date.
Tools like TrustCheck will flag suspicious websites and transactions, warning Web3 users of potential fake websites and smart contracts.
blur has also been in the spotlight due to reports of users laundering NFTs in order to cash in on their token airdrop incentive program. However, data analysis by data scientist Hildebert Moulié at Dune suggests that Blur’s NFT trading volumes are legitimate.
Fake websites and phishing attacks are commonplace on the Internet, while scammers continue to try to drain funds through Web3 functionality. In February 2023, a URL posing as the ETHDenver conference website it was linked to a known phishing wallet address that has stolen more than $300,000 to date.
By the end of 2022, the scammers also took advantage of FTX investors using phishing websites to recover funds following the implosion of the ill-fated cryptocurrency exchange.
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