The rapid growth of the Web3 ecosystem has attracted a multitude of users and investors, yet it has also become a fertile ground for scammers. One such scam that has gained popularity is the airdrop scam. This article aims to provide a comprehensive guide on Web3 security, focusing on the risks associated with airdrops and how users can avoid falling victim to these scams.
Understanding Airdrops
An airdrop is a promotional strategy used by Web3 projects to increase their visibility and user base. It involves distributing tokens to specific wallet addresses for free. There are various types of airdrops, including:
- Task-based: Users complete specific tasks, such as sharing, liking, or engaging with the project’s content.
- Interactive: Users perform actions like exchanging tokens, sending/receiving tokens, or cross-chain operations.
- Holding-based: Users hold a specific token to receive the airdropped tokens.
- Staking-based: Users stake their tokens, provide liquidity, or lock their tokens for a certain period to receive airdropped tokens.
Risks Associated with Airdrops
Despite their popularity, airdrops come with inherent risks. Here are some common scams associated with airdrops:
Fake Airdrop Announcements
Scammers often hijack project accounts to announce fake airdrops. Users, trusting the official account, click on the malicious links and end up on phishing websites. If they input their private keys/mnemonic phrases or grant permissions, the scammers can steal their assets.
High-Fidelity Fake Accounts
Scammers also use high-fidelity fake accounts to post messages in the comments section of the project’s official account, distributing airdrop links. They capitalize on the trust users have in the official account and often post these links immediately after the project releases an airdrop announcement.
Social Engineering Attacks
In some cases, scammers infiltrate Web3 project groups and target specific users for social engineering attacks. They sometimes use airdrops as bait to trick users into transferring tokens to get the airdrop. Users should be cautious of unsolicited official customer service or experts who claim to guide them through the process.
Scam Tokens
Scammers often airdrop tokens with no real value to users’ wallets. When users try to interact with these tokens, such as transferring or trading them, they are redirected to phishing websites. This can lead to the loss of valuable NFTs or the theft of their original assets.
Malicious Contracts
Scammers create malicious contracts that exploit users’ gas fees. They trick users into approving the contract’s use of their tokens, which then raises the gas limit for subsequent transactions. This allows the scammers to mint CHI tokens, which they can burn to receive gas compensation.
Malicious Tools
Some users need to download plugins for translation or querying token rarity during the airdrop process. These plugins may be malicious, especially if they are not downloaded from official sources. Additionally, some users download scripts to automate the process, which can contain malicious code, leading to the theft of private keys/mnemonic phrases or unauthorized actions.
How to Avoid Airdrop Scams
To minimize the risk of losing assets during an airdrop, users can take the following precautions:
- Multi-Verification: Check the website URL carefully, and confirm it through the project’s official account or announcement channels. Install phishing risk blocking plugins like Scam Sniffer to assist in identifying phishing websites.
- Wallet Hierarchization: Use a wallet for small amounts of funds during the airdrop process, and keep larger amounts in cold wallets. Be cautious of airdropped tokens from unknown sources and avoid executing authorization/signature operations.
- Check Gas Limits: Pay attention to abnormally high gas limits in transactions.
- Use Antivirus Software: Keep antivirus software like Kaspersky or AVG updated and enabled for real-time protection.
By following these guidelines, users can reduce the likelihood of falling victim to airdrop scams and protect their assets in the Web3 ecosystem.
Views: 0