Scammers continue to prey on nonfungible token (NFT) users who want to claim Blur token airdrops through the use of many scam websites.
According to data from TrustCheck, more than $300,000 has been stolen from unsuspecting users who have linked their wallets to malicious websites.
The legitimate Blur platform is a newcomer to the NFT market space and has already made waves in the industry, with a large number of users and trading volume as a direct result of the platform’s three-phase airdrop incentive scheme. 10% of the total supply of Blur tokens is distributed to users based on trading activity in the second token airdrop scheme starting February 15.
The first airdrop was retroactive, awarding tokens to anyone who traded NFTs on Ethereum in the six months prior to the platform’s launch in October 2022. The second airdrop awarded tokens to users who registered for NFTs before December 6, while the third airdrop awarded tokens to users who made offers on the platform after the feature is turned on.
Related: What are crypto phishing attacks, and how to prevent them?
Due to the mechanics of the incentive program, many users want to request $BLUR tokens in the NFT ecosystem. This creates an opportunity for scammers to promote fake airdrop links to malicious websites.
Data shared with Cointelegraph from the Ethereum-based Web3 browser security extension TrustCheck revealed that more than $300,000 in funds have been stolen from 24 different scam websites since February 15th. Some of these websites are still operational, with users being warned to exercise caution when connecting. purse
The website uses smart contracts that automatically request transactions when users connect their ETH wallets. All ETH from the wallet is then transferred to a specific address, which allows TrustCheck to track the amount of stolen funds to date.
Tools like TrustCheck will flag suspicious websites and transactions, warning Web3 users of potential fake websites and smart contracts.
Blur is also in the spotlight due to reports of users doing NFT wash trades to earn token airdrop incentive schemes. However, data analytics performed by data scientist Hildebert Moulié at Dune show that NFT Blur’s trading volume is legitimate.
Fake websites and phishing attacks are common on the internet, while scammers continue to try to drain funds through Web3 functionality. In February 2023, a URL masquerading as the ETH Denver conference website was linked to a well-known phishing wallet address that has stolen more than $300,000 to date.
Scammers also preyed on FTX investors using phishing websites in late 2022 who were scrambling to recover their funds after the implosion of the failed cryptocurrency exchange.