• Crypto Scammers made around 3,234 Ethereum (ETH) — worth over $6 million — from fake airdrops in the past nine months.
• These phishing scammers send links asking unsuspecting users to claim airdrops and then exploit their wallets when they connect them.
• The most profitable drainer gained 1024 ETH from 1,714 victims while the scammer with the most victims stole 302 ETH from 2,137 addresses.
Crypto Scam Losses Reach Over $6 Million
A report by AegisWeb3 found that between August 2022 and May this year, crypto scammers made around 3,234 Ethereum (ETH) — worth over $6 million — through fake token claims or airdrops. Blockchain security firm Peckshield corroborated these findings.
How Did This Happen?
The scammers lured unsuspecting users to their sites with links claiming to offer free tokens or airdrops. When those individuals connected their wallets to these sites, their wallets were exploited and funds drained. The scammer who was most successful managed to gain 1024 ETH from 1,714 victims while the one with the most victims stole 302 ETH from 2,137 addresses.
Which Cryptocurrencies Were Involved?
Popular crypto projects like Blur and Arbitrum (ARB) were among those involved in this scamming activity.
Previous Incidents of Crypto Fraud
This is not the first time such fraud has occurred; similar incidents have been reported in recent times involving Tron’s JustSwap platform as well as Binance’s DEX Exchange which lost an estimated $42million through fake tokens created using its smart contracts engine.
Cryptocurrency scams are becoming increasingly prevalent and unfortunately it appears that no coin is safe from being exploited by malicious actors for illicit gains – making it more important than ever for users to remain vigilant when connecting their wallets online or participating in any type of airdrop event.