Users searching for Blur token airdrops have been scammed by a number of fake websites.
Scammers continue to attack NFT users attempting to collect airdrops for Blur (BLUR) tokens through a variety of fraudulent websites. TrustCheck data shows that over $300,000 has been taken from unsuspecting individuals whose wallets were connected to fraudulent websites.
Despite being a relative newcomer to the NFT marketplace, the legitimate Blur platform is already making headlines thanks to its increasing user base and trade volume, which are directly attributable to its three-phase airdrop incentive scheme.
In its second token airdrop scheme, which began on February 15, 10% of Blur’s total token supply was allocated to users based on their trading activity.
Anybody who traded an NFT on Ethereum in the six months prior to the release of the platform in October 2022 was eligible for the first airdrop, which was retroactive and awarded tokens.
Users who listed NFTs before to December 6 were eligible for the second airdrop; users who placed bids on the platform after the feature was live were eligible for the third airdrop.
The mechanics of the incentive program have resulted in a significant amount of users searching for BLUR tokens throughout the NFT ecosystem. This allowed scammers the opportunity to circulate fake airdrop links to malicious websites.
TrustCheck, an Ethereum-based Web3 browser security extension, has released data revealing that since February 15th, over $300,000 has been stolen from 24 different scam websites. Only a few of these websites are still operational, and they warn users against connecting their wallets.
When customers connect their Ether wallets, the websites use smart contracts to automatically initiate transactions. The amount of money stolen so far has been tracked by TrustCheck thanks to the draining of all the ETH from the wallet to a specific address.
Web3 users will be warned about potentially fraudulent websites and smart contracts via tools like TrustCheck that detect suspicious websites and transactions.
The NFT wash trading that users allegedly engaged in order to take advantage of Blur’s token airdrop incentive program has also drawn attention to the company. Hildebert Moulié, a data scientist, conducted data analysis on Dune and found that Blur’s NFT trading volumes are legitimate.
The internet is full of fake websites and phishing scams, and scammers are attempting to use Web3 technology to commit fraud. A URL posing as the ETHDenver conference website was connected in February 2023 to a well-known phishing wallet account that has so far taken over $300,000.
Scammers used phishing websites to target FTX investors in late 2022 as they tried to recover money after the collapse of the failing cryptocurrency exchange.