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$300K was stolen by fraudulent Blur airdrop websites

$300K was stolen by fraudulent Blur airdrop websites

Several fraudulent websites stole funds from users who were trying to get free Blur tokens but didn’t know it.

Scammers continue to prey on users of nonfungible tokens (NFTs) who are attempting to claim Blur (BLUR) token airdrops via multiple scam websites. According to TrustCheck data, over $300,000 has been stolen from wallets linked to malicious websites by unsuspecting users.

Blur is a new legitimate NFT marketplace that is getting more users and more trades because of its three-step airdrop incentive plan. In Blur’s second token airdrop, which took place on February 15, users got 10% of the total number of tokens based on how much they traded.

For the first airdrop, anyone who traded an NFT on Ethereum in the six months before the platform went live in October 2022 got a token.The second airdrop gave tokens to users who listed NFTs before December 6, and the third gave 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 across the NFT ecosystem. This allowed scammers to promote fake airdrop links leading to malicious websites.

When users connect their Ether wallets to the sites, smart contracts automatically start transactions. The wallet’s ETH is then sent to a certain address. This lets TrustCheck keep track of how many funds have been stolen so far.

Tools like TrustCheck will find transactions and websites that seem fishy. This will let Web3 users know that there could be fake websites and smart contracts.

People have also heard that users are using NFT wash trading to make money from Blur’s token airdrop incentive program. Still, data analysis done on Dune by data scientist Hildebert Moulié shows that Blur’s NFT trading volumes are real.

There are a lot of fake websites, phishing attacks, and Web3 scams online. In February 2023, a URL pretending to be the website for the ETHDenver conference was linked to a well-known phishing wallet address, which was used to steal more than $300,000.

Late in 2022, fraudsters also targeted FTX investors with phishing websites in an attempt to recoup funds following the collapse of the failed cryptocurrency exchange.

Content Source: cointelegraph.com

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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