Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Technical Discussion => Topic started by: examplens on April 29, 2024, 12:09:04 PM
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
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It's phishing if the token ticker is similar to its original (valuable) token that they tried to mimic. If it's only a random ticker or unpopular token, it's just for marketing purposes, kinda like spam with emails or airdrops. The purpose is just "views" so the address owner searches or knows about the token existence. This practice has been common ever since ETH, and then BSC.
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
I have received some tokens which have URL as their names, something like xxxairdrop.io or whatever.
So , those tokens can also be phising to infect your computer and steal your coins.
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If it's a type of scam, how is it realized?
I don't know exactly, but I believe this is one kind of scam attempt. Usually, these scammers use a note for the receivers so you can read it. They send those fake tokens to victims so they check if those coins have value or not and if they can be swapped for USDT or not. Sometimes those scammers provide links to their website so that the victim can visit their website and try to swap the coins. Here is the main part, when victims connect their web3 wallets to their website, these websites drain their entire wallet within a minute. So, you have to be careful when you connect your wallets to a website. Look at the screenshot below that I shared. This is one of my wallets with a bunch of phishing tokens with notes. Basically, they are requesting me to use their website to claim rewards! LOL. In your case, fortunately, someone leveled it as phishing already.
(https://talkimg.com/images/2024/04/29/rMcv3.png)
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If it's a type of scam, how is it realized?
I don't know exactly, but I believe this is one kind of scam attempt. Usually, these scammers use a note for the receivers so you can read it. They send those fake tokens to victims so they check if those coins have value or not and if they can be swapped for USDT or not. Sometimes those scammers provide links to their website so that the victim can visit their website and try to swap the coins.
If someone newbie who receive such amount on their wallet, they will be probably shocked, excited and be tempted to send the tokens to what exchange its available, then boom, fund wiped.
Well, some newbie have common sense and wary so they are saved on such tricks, DYOR will always save the day.
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If it's a type of scam, how is it realized?
Sometimes those scammers provide links to their website so that the victim can visit their website and try to swap the coins. Here is the main part, when victims connect their web3 wallets to their website, these websites drain their entire wallet within a minute.
Yup, this is the most common thing if it's targeted as a scam, you rush to an exchange to cash out and you get fleeced for everything! I wonder how lucrative this thing still is, you have to pay some fees while dropping those tokens and the ones tricked by this are not usually carrying that much in coins in their wallets.
Oh, and there is another kind of spam that is less aggressive where exchanges do this for promotions, just to get you on board, the price of those coins is usually below cents value and even if you sell them you won't be able to cash out since you don't have the minimum withdrawal so from here it goes like this
- not a scam and you deposit a bit to make the quota, the exchange has the fee, and your KYC data
- pure scam and the moment you deposit your money is gone
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Oh, and there is another kind of spam that is less aggressive where exchanges do this for promotions, just to get you on board, the price of those coins is usually below cents value and even if you sell them you won't be able to cash out since you don't have the minimum withdrawal so from here it goes like this
- not a scam and you deposit a bit to make the quota, the exchange has the fee, and your KYC data
- pure scam and the moment you deposit your money is gone
I am not aware of this type of scam attempt BTW. I don't think any reputed exchange will do something like that. Usually, I use DEX to swap and bridge currency that is EVM compatible. But, I also use CEX to exchange coins like Bitcoin. I don't remember receiving any kind of these spammy token CEX wallets. But I know that Binance has dropped some tokens named NFT which have no value. So, I always ignored that token. I mostly use Binance and Kucoin but I didn't received such coins except for the one that I mentioned.
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It's phishing if the token ticker is similar to its original (valuable) token that they tried to mimic. If it's only a random ticker or unpopular token, it's just for marketing purposes, kinda like spam with emails or airdrops. The purpose is just "views" so the address owner searches or knows about the token existence. This practice has been common ever since ETH, and then BSC.
Actually such practice was common on BTC as well. Those spammer/scammer would use either OP_RETURN or multiple addresses and then send dust to your Bitcoin address. But it looks like they stopped doing that due to relative high Bitcoin TX fee.
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I am not aware of this type of scam attempt BTW. I don't think any reputed exchange will do something like that
Reputed,no! Shadier ones, ones that just started, rug pull ones, yeah!
It was more common during the ICO/airdrop madness, I guess it died down because cost versus potential revenue doesn't make it attractive anymore as a promotional method. Plus right now there are so many chains, so many tokens so much stuff I think it's way more beneficial to simply buy your way in the game on social media.
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Reputed,no! Shadier ones, ones that just started, rug pull ones, yeah!
It was more common during the ICO/airdrop madness, I guess it died down because cost versus potential revenue doesn't make it attractive anymore as a promotional method. Plus right now there are so many chains, so many tokens so much stuff I think it's way more beneficial to simply buy your way in the game on social media.
Currently, the airdrops are in hype again. It started only a couple of weeks ago, and if you have followed any of the groups or channels, you will notice how many new projects are launching every day. Twitter is full of spam at this moment. But, you have to engage if you want more updates about these things.
If airdrop hunters start doing the tasks, they do it for every project. A couple of new chains has been launched lately and some new projects on those chains has been launched as well. But fortunately, I haven't been in those scammy projects yet and I hope I won't fall for those scams.
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I have been receiving those types of airdrops in my wallet not on Polygon, but with BASE chain. I think it's just because it's easy to create new projects and then make meme coins or something that would be distributed to all NFT holders or something.
I have traded only once that I received and traded it, nothing happened to my account though.
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Sometimes those scammers provide links to their website so that the victim can visit their website and try to swap the coins. Here is the main part, when victims connect their web3 wallets to their website, these websites drain their entire wallet within a minute.
This is actually already a popular scam method which victimized many in the past and that's why it is good never to touch something like that otherwise your wallet will be zero in no time at all. I once read horrifying stories along this scam strategy and in many cases those who are new in crypto industry can easily be deceived as who would not want to receive something for free even if the value can just be $10. This was popular in both ETH and BSC network and until now I still see some tokens and coins coming my way without me knowing where they really come from. In Twitter or X, airdrops is always popular but I am careful in there as we don't know if they are still employing the same scam way to victimize people. We are certainly living in the good and the bad of the cryptocurrency industry and categorizing which can be a little bit challenging.
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I have dozens of these scam tokens in my wallet on the Binance network. If you put your wallet address on the X platform or sign up for Airdrop, you will receive dozens of these scam tokens.
In addition to everything mentioned above, some of these tokens give a large fictitious value to the token, and when someone tries to sell it, he must do an approval first, and this requires high fees ranging between $4-10, while it usually does not exceed cents. These fees will go to the wallet of The creator of the token, therefore, the more he publishes these tokens, the more he earns thousands of dollars through fees alone. Of course, the victim will not be able to sell the token because it is a scam.
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If it's a type of scam, how is it realized?
I don't know exactly, but I believe this is one kind of scam attempt. Usually, these scammers use a note for the receivers so you can read it. They send those fake tokens to victims so they check if those coins have value or not and if they can be swapped for USDT or not. Sometimes those scammers provide links to their website so that the victim can visit their website and try to swap the coins.
If someone newbie who receive such amount on their wallet, they will be probably shocked, excited and be tempted to send the tokens to what exchange its available, then boom, fund wiped.
Well, some newbie have common sense and wary so they are saved on such tricks, DYOR will always save the day.
I agree. Newbies must be guided with this kind of stuff to avoid losing funds. Scammers in crypto keeps improving to lure anyone. I have a friend who has been in crypto for years and always taking care of his actions every time he transfer funds but still being victim of scamming or hacking. Maybe his computer is infected by clicking suspicious links, so DYOR is must and don't always rely on the knowledge of a friend.
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Well, I have been spreading awareness everywhere about phishing; unfortunately, I was the victim last night when an email was phished at midnight, and I did not have access to my desktop or laptop. I did not doubt the email because it was exclusively for airdrop farming. Since I was on my mobile, I did not check that email's URL and sender. I clicked on the link and went ahead and connected the metamask wallet. It takes only a few seconds to drain my entire wallet. Fortunately, The contract did not drain all the chains. The blast and Arbitrum chains were drained, and the ETH and Avalance chains weren't affected.
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I have received some tokens which have URL as their names, something like xxxairdrop.io or whatever.
So , those tokens can also be phising to infect your computer and steal your coins.
I have nothing to do with tokens, but if someone had told me that a phishing attack could be attempted in this way, I would probably have thought that it couldn't be true. However, scammers are obviously becoming more and more inventive in their intention to get hold of anything of value.
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
I witnessed same things when I swapped a token I received from bounty and whenever I do a swap from one network to another, their goal is to get you associates wallet to their fake site where they seems someone can swap the token with this your wallet would be emptied. And for newbies especially airdrops hunters are easily caught up at this moment since they would think is a free token and they could swap for a better token without them knowing it's a fake one and a trap for that matter.
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Well, I have been spreading awareness everywhere about phishing; unfortunately, I was the victim last night when an email was phished at midnight, and I did not have access to my desktop or laptop. I did not doubt the email because it was exclusively for airdrop farming. Since I was on my mobile, I did not check that email's URL and sender. I clicked on the link and went ahead and connected the metamask wallet. It takes only a few seconds to drain my entire wallet. Fortunately, The contract did not drain all the chains. The blast and Arbitrum chains were drained, and the ETH and Avalance chains weren't affected.
Sorry for your loss. Everyone can make a mistake.
I avoid keeping more than a few bucks on my mobile wallets. At most the price of the phone (my personal limit)
I don't have metamask in my mobile, just in my desktop. Maybe it is a good practice, to avoid interacting with smartcontracts in the phone
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I have a lot of these on my active wallets. I stopped participating in airdrops and altcoins bounty, but I still get a lot of these tokens. It's just good that Ethereum and Binance have marked these tokens as spam, so you will get a warning and not fall into trading them to the fake trading platform. Since this is only on a view, it's safe unless you add it to the contract address, which you should not.
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I agree. Newbies must be guided with this kind of stuff to avoid losing funds. Scammers in crypto keeps improving to lure anyone. I have a friend who has been in crypto for years and always taking care of his actions every time he transfer funds but still being victim of scamming or hacking. Maybe his computer is infected by clicking suspicious links, so DYOR is must and don't always rely on the knowledge of a friend.
That's right, with guidance there will be no complaints of newcomers losing funds in crypto, education for the sake of education about crypto must also be improved because as we know crypto has become global and almost all young people play in crypto
and keep in mind that crypto crime is very subtle, without us realizing it, with one click the assets can be lost without a trace
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I agree. Newbies must be guided with this kind of stuff to avoid losing funds. Scammers in crypto keeps improving to lure anyone. I have a friend who has been in crypto for years and always taking care of his actions every time he transfer funds but still being victim of scamming or hacking. Maybe his computer is infected by clicking suspicious links, so DYOR is must and don't always rely on the knowledge of a friend.
That's right, with guidance there will be no complaints of newcomers losing funds in crypto, education for the sake of education about crypto must also be improved because as we know crypto has become global and almost all young people play in crypto
and keep in mind that crypto crime is very subtle, without us realizing it, with one click the assets can be lost without a trace
That's true. The problem is there's no physical education out there for crypto. Mostly we can found it online, offering a lesson for crypto but people think it's a waste of money that's why they decided to enter directly in the crypto without knowing how risky is it especially if you're going to invest with big money. If I have a friend who really want to invest in crypto I will guide him to avoid losing funds.
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As there are no free money in cryptocurrency, the only goal of such worthless tokens is to scam address owner. Starting from being imitators of original tokens, and ending with redirecting (not directly but through search) to phishing pages. The worst part of it is that blockchain explorer somehow show value of such tokens. For example on one of my addresses there are tokens that are $100 worth, they are traded on dex and their value is around few cents, but if I google where they are traded, search can lead me to anywhere.
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I have nothing to do with tokens, but if someone had told me that a phishing attack could be attempted in this way, I would probably have thought that it couldn't be true. However, scammers are obviously becoming more and more inventive in their intention to get hold of anything of value.
Scammers are just normal people like ever other people but they think ahead of everyone, anywhere there is money, they check critical ways where it's vulnerable and they take advantage of it. Sending of coins used to be a thing when new coins want to airdrop money to people for free task or even free but scammers found a way to turn it to wallet poisoning.
This attempt is mere tweaking of smart contract and the person must understand solidity before they can code something like that, a mere interaction with any coin they send for you, once you click the bait and swap, your tokens is gone.
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As there are no free money in cryptocurrency
I think the only place in the world where you can find free money is in crypto.
There has been a lot of opportunities of free money in the past. Airdrops which were worth thousands, bitcoin forks, etc...
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Here's a crazy case of a dust attack that ended at the mercy of the hacker who returned the funds.
The purpose was to create confusion in the history of transactions with similar addresses, which ultimately led to the confusion of the victim who sent coins to the wrong address.
https://cryptopotato.com/71m-wbtc-dusting-attack-victim-recovers-stolen-loot/
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Here's a crazy case of a dust attack that ended at the mercy of the hacker who returned the funds.
The purpose was to create confusion in the history of transactions with similar addresses, which ultimately led to the confusion of the victim who sent coins to the wrong address.
https://cryptopotato.com/71m-wbtc-dusting-attack-victim-recovers-stolen-loot/
It wasn't mercy. The hacker received 10% of them funds, millions... and now he is "clean" I guess.
The victim first reached out to the scammer on May 5, offering a 10% in return for the stolen funds. In cooperation with blockchain cybersecurity firm Match Systems and crypto exchange Cryptex, the victim threatened to trace the funds if the attacker failed to respond by May 6.
....
Meanwhile, the worth of the returned assets hovers around $66.8 million because ether has declined more than BTC in the past week. Data from CoinMarketCap shows ETH fell over 6.4% while BTC slumped roughly 2.8% within the same time frame.
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Here's a crazy case of a dust attack that ended at the mercy of the hacker who returned the funds.
The purpose was to create confusion in the history of transactions with similar addresses, which ultimately led to the confusion of the victim who sent coins to the wrong address.
https://cryptopotato.com/71m-wbtc-dusting-attack-victim-recovers-stolen-loot/
That's why you're not supposed to fetch addresses to pay using the transaction history. Many wallets have an address book specifically for that purpose. For example, Electrum has such a feature.
But of course, if the problem comes from the likeness of addresses on different networks, well then it's much harder to detect, really. Except I guess for only using one wallet per network.
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It wasn't mercy. The hacker received 10% of them funds, millions... and now he is "clean" I guess.
There was an offer of 10%, but there are no details from the conversation between the victim and the hacker. It is certainly a mercy that he agreed to return the money without any investigation.
That's why you're not supposed to fetch addresses to pay using the transaction history. Many wallets have an address book specifically for that purpose. For example, Electrum has such a feature.
But of course, if the problem comes from the likeness of addresses on different networks, well then it's much harder to detect, really. Except I guess for only using one wallet per network.
Honestly, this seems quite sophisticated to me, it would never occur to me to come up with such a method. Maybe because I don't think about how to steal someone's money.
Nevertheless, a banal mistake like sending to the wrong address due to similarity, and the amount involved is $70 million... It is quite irresponsible of this person to make such a transaction.
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As there are no free money in cryptocurrency
I think the only place in the world where you can find free money is in crypto.
There has been a lot of opportunities of free money in the past. Airdrops which were worth thousands, bitcoin forks, etc...
You have said it - in the past. In the past we did not have such massive token spams on addresses. If we were talking about past, then I would agree that it was much easier to get something for free in crypto. If I get something for free in crypto today, I would be very suspicious of that.
But to be honest, I dont know 100% correct answer for topic question. I have address that are empty and never been flashed anywhere, and even they receive trash from time to time. If this was some kind of an attack on me, then there is no point of that, because addresses are empty. I can assume that this is a long term strategy and maybe they would play that joker card (token spam) in future against me. Glad that so far they did not catch me and scam me.
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Sorry for your loss. Everyone can make a mistake.
I avoid keeping more than a few bucks on my mobile wallets. At most the price of the phone (my personal limit)
I don't have metamask in my mobile, just in my desktop. Maybe it is a good practice, to avoid interacting with smartcontracts in the phone
Usually, I don't keep my crypto on Metamask, but as you may know, sometimes projects offer something good. As you may know, there is a new ETH layer2 blockchain named Blast and their website is blast.io, they are offering something good. All you have to do is hold ETH on the Blast network and connect your wallet to their website. It will generate some points that will later convert into their native tokens. So, I was farming their airdrops with this wallet, and the scammer stole all my ETH on that chain. But, never mind. I revoked the connection, and all other networks except Blast and Arbitrum were safe.
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Usually, I don't keep my crypto on Metamask, but as you may know, sometimes projects offer something good. As you may know, there is a new ETH layer2 blockchain named Blast and their website is blast.io, they are offering something good. All you have to do is hold ETH on the Blast network and connect your wallet to their website. It will generate some points that will later convert into their native tokens. So, I was farming their airdrops with this wallet, and the scammer stole all my ETH on that chain. But, never mind. I revoked the connection, and all other networks except Blast and Arbitrum were safe.
I'm sorry for your loss, I hope it's not a significant amount, but I wouldn't blame Metamask for it. I learned a similar expensive lesson earlier, after that only Metamask + hardware (Trezor) wallet.
All airdrops where I have to hold ETH on some network are risky for me and that's an additional reason why I don't want to consider them.
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Usually, I don't keep my crypto on Metamask, but as you may know, sometimes projects offer something good. As you may know, there is a new ETH layer2 blockchain named Blast and their website is blast.io, they are offering something good. All you have to do is hold ETH on the Blast network and connect your wallet to their website. It will generate some points that will later convert into their native tokens. So, I was farming their airdrops with this wallet, and the scammer stole all my ETH on that chain. But, never mind. I revoked the connection, and all other networks except Blast and Arbitrum were safe.
I'm sorry for your loss, I hope it's not a significant amount, but I wouldn't blame Metamask for it. I learned a similar expensive lesson earlier, after that only Metamask + hardware (Trezor) wallet.
All airdrops where I have to hold ETH on some network are risky for me and that's an additional reason why I don't want to consider them.
Airdrops now require that you interact a lot with smartcontracts.
Stake high amounts, high swap volumes etc... you spend lots of money doing those tasks for an unknown airdrop value
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Airdrops now require that you interact a lot with smartcontracts.
Stake high amounts, high swap volumes etc... you spend lots of money doing those tasks for an unknown airdrop value
Well, testnet airdrop tasks require you to cost nothing but your time only by testing their platform. I prefer to participate in the testnet airdrops because they cost only testnet tokens. If it's a Layer 2 blockchain, then most of them require me to spend some gas fees on sepia, base, or other testnet ETH to participate in their test net. Some testnet requires tBTC to participate in their testnet.
As for staking and swapping volumes, yeah. Some platforms offer airdrops like that, but they are already on the mainnet. I do not prefer participating in such airdrops. But if a platform does not require staking but just holding an amount on a specific chain, then it's an awesome opportunity, right? The latest ETH layer two blockchains, Blast.io, is offering something good.
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Airdrops now require that you interact a lot with smartcontracts.
Stake high amounts, high swap volumes etc... you spend lots of money doing those tasks for an unknown airdrop value
Well, testnet airdrop tasks require you to cost nothing but your time only by testing their platform. I prefer to participate in the testnet airdrops because they cost only testnet tokens. If it's a Layer 2 blockchain, then most of them require me to spend some gas fees on sepia, base, or other testnet ETH to participate in their test net. Some testnet requires tBTC to participate in their testnet.
As for staking and swapping volumes, yeah. Some platforms offer airdrops like that, but they are already on the mainnet. I do not prefer participating in such airdrops. But if a platform does not require staking but just holding an amount on a specific chain, then it's an awesome opportunity, right? The latest ETH layer two blockchains, Blast.io, is offering something good.
Testnets most of the time would be needing up some testnet gas which you could make use of Ex. Sepolia ETH if we are really that basing up on erc20 type projects
and so forth. The thing i do skip out on dealing with those airdrops is on the time that you would be making some tx volume on the network on which it is really needing up some
gas on which it would really be still that costly if you do ask me. So its not really that not all would really be able to freely join up these drops due to this kind of
arrangement on which it turns out that you would be still needing to invest or put up some funds for gas fees.
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Usually, I don't keep my crypto on Metamask, but as you may know, sometimes projects offer something good. As you may know, there is a new ETH layer2 blockchain named Blast and their website is blast.io, they are offering something good. All you have to do is hold ETH on the Blast network and connect your wallet to their website. It will generate some points that will later convert into their native tokens. So, I was farming their airdrops with this wallet, and the scammer stole all my ETH on that chain. But, never mind. I revoked the connection, and all other networks except Blast and Arbitrum were safe.
I'm sorry for your loss, I hope it's not a significant amount, but I wouldn't blame Metamask for it. I learned a similar expensive lesson earlier, after that only Metamask + hardware (Trezor) wallet.
All airdrops where I have to hold ETH on some network are risky for me and that's an additional reason why I don't want to consider them.
Airdrops now require that you interact a lot with smartcontracts.
Stake high amounts, high swap volumes etc... you spend lots of money doing those tasks for an unknown airdrop value
That is the current trend now. Most airdrops wants their participants to enteract with their smart contract and possibly do a review of their experience with them and in return they would airdrop their token to that particular wallet address you use in the test. Most times too it is staking as you have said but I have not done that for airdrop purpose but rather I do swapping to see foe myself what would happen so I can give a review of my experience while interacting with their smart contract. I try as much as possible not to spend too much while conducting test as the value of the project is yet to be ascertained.
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The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
I have actually learnt alot from this thread. There are alot more ways of phishing these days. The scammers are being smarter which is why newbies fall most times. Unless the newbies come to the realisation that there's no free money anywhere, they'll keep falling for this cheap phishing scams.
Another reason I feel they can send random coins which I haven't read anyone said is to make their address belong in your system. Such that you could mistakenly send coins to them without verifying well. You may think it is difficult to happen, but it does happen. All they need do is to make their address to be in your neighborhood and expect some wonders to happen.
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Another reason I feel they can send random coins which I haven't read anyone said is to make their address because in your system. Such that you could mistakenly send coins to them without verifying well. You may think it is difficult to happen, but it does happen. All they need do is to make their address to be in your neighborhood and expect some wonders to happen.
I remember that earlier you had to manually add the contract address and token name to the wallet in order for a new token to be visible. At least on the Ethereum network. From this angle, it seems much safer.
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Sadly scammers lure people into this, pople thinking that they got a valuable NFT or worthless token, sometimes it shows 500$ worth of tokens, when in reality, it's not. And so I got bunch of them, and I really don't know what to do with them. If anyone here could suggest how do I remove those junkies?
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Sadly scammers lure people into this, pople thinking that they got a valuable NFT or worthless token, sometimes it shows 500$ worth of tokens, when in reality, it's not. And so I got bunch of them, and I really don't know what to do with them. If anyone here could suggest how do I remove those junkies?
It depends on the wallet you use. That kind of thing is eminent in Trust wallet not until they announced that they have upgraded and those random coins will no longer appear in your portfolio. So, check wallets that are more secured or that have upgraded their security patch.
@Examplens, automation is taking over.
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Sadly scammers lure people into this, pople thinking that they got a valuable NFT or worthless token, sometimes it shows 500$ worth of tokens, when in reality, it's not. And so I got bunch of them, and I really don't know what to do with them. If anyone here could suggest how do I remove those junkies?
It depends on the wallet you use. That kind of thing is eminent in Trust wallet not until they announced that they have upgraded and those random coins will no longer appear in your portfolio. So, check wallets that are more secured or that have upgraded their security patch.
@Examplens, automation is taking over.
Yes trust wallet is one of the wallets I expirenced such random coins deposits and Some point also I acknowledged the fact that my wallet was exposed due to bounty application since most spammers can easily get hold of your emails or wallet from those bounty spreadsheets.
But the fact that it never worth anything, when I saw that ops mentioned $500 worth wallet displays and that could not be the exact value of those coins on exchange.
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Well, The Trezor suite has recently started to blur with warning trash tokens. Now I looked at my one previously used Eth address, which was littered with trash tokens. Now it looks like
(https://talkimg.com/images/2024/07/06/oIoG5.png)
Also clicking on the warning icon
(https://talkimg.com/images/2024/07/06/oI5b2.png)
https://trezor.io/support/a/address-poisoning-attacks
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Well, The Trezor suite has recently started to blur with warning trash tokens. Now I looked at my one previously used Eth address, which was littered with trash tokens. Now it looks like
(https://talkimg.com/images/2024/07/06/oIoG5.png)
Also clicking on the warning icon
(https://talkimg.com/images/2024/07/06/oI5b2.png)
https://trezor.io/support/a/address-poisoning-attacks
This is good.
Etherscan.io also does something similar
It marks tokens as "suspicious ". For example
https://etherscan.io/token/0x0dbda0828805a6d8c60cc9dd7525d1c0a529a2e4?a=0x72511f1b6bc822aa8c9cee47a86544f4a182d8f4
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These are fake coins scammers send them to you in the hope that to sell them you will search on Google and on social media and will find sites that belong to them and they hope that you will connect your wallet to the site to sell them and in result, those sites hack your wallet and can get your funds out of the wallet and doom you. It's better to ignore them.
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Airdrops now require that you interact a lot with smartcontracts. Stake high amounts, high swap volumes etc... you spend lots of money doing those tasks for an unknown airdrop value...
And that can be the reason why I already avoided airdrops of those types and is now preferring the tap-tap projects still with the hope that some of them will eventually make it to the top...though on the same level nothing is guarantee as many of them are just not offering solid features the market can surely appreciate. Just like memecoins, the value is on the community supporting the project...the bigger the better with many not offering anything else. I can sense that many of these projects are just here for the MONEY and nothing more...and hopefully airdrop participants can get some breadcumbs along the way. And people are promoting even bad projects even spamming everywhere all because we are looking forward to get something for free...anyway good luck to all of us who are still hopeful to get something of our time and effort.
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These are fake coins scammers send them to you in the hope that to sell them you will search on Google and on social media and will find sites that belong to them and they hope that you will connect your wallet to the site to sell them and in result, those sites hack your wallet and can get your funds out of the wallet and doom you. It's better to ignore them.
Or scam exchange that tell you to send more of your personal data, such as your passport, or that it has very low liquidity so that you cannot sell these tokens. The best thing you can do is not to link your wallet to any service and make a traditional deposit instead of linking the wallet.
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Or scam exchange that tell you to send more of your personal data, such as your passport, or that it has very low liquidity so that you cannot sell these tokens. The best thing you can do is not to link your wallet to any service and make a traditional deposit instead of linking the wallet.
Good point, but I sometimes wonder how beneficial this deal can be for scammers. It's a lengthy procedure - they have to set up an entire exchange or swap site, which is costly. Then they spend time scamming people in the hope that they will link their wallets and provide identification to approve KYC.
Is it really worth it for them? I've seen many offers where they claim to send a few dollars if we approve KYC on an exchange.
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Or scam exchange that tell you to send more of your personal data, such as your passport, or that it has very low liquidity so that you cannot sell these tokens. The best thing you can do is not to link your wallet to any service and make a traditional deposit instead of linking the wallet.
Good point, but I sometimes wonder how beneficial this deal can be for scammers. It's a lengthy procedure - they have to set up an entire exchange or swap site, which is costly. Then they spend time scamming people in the hope that they will link their wallets and provide identification to approve KYC.
Is it really worth it for them? I've seen many offers where they claim to send a few dollars if we approve KYC on an exchange.
if it is not worth it i don't think there will be any more spammer coins in our wallets, why would they bother doing that if they don't get results
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Good point, but I sometimes wonder how beneficial this deal can be for scammers. It's a lengthy procedure - they have to set up an entire exchange or swap site, which is costly. Then they spend time scamming people in the hope that they will link their wallets and provide identification to approve KYC.
Is it really worth it for them? I've seen many offers where they claim to send a few dollars if we approve KYC on an exchange.
if it is not worth it i don't think there will be any more spammer coins in our wallets, why would they bother doing that if they don't get results
It's totally worth it, there are several case studies about it that we can read but first Abeo we must be aware of the type of this scam. It is known as the Dust attack and once you will search more about it, you will find scammers have made a fortune from this scam.
- Crypto Dusting Attack Case Study: 170,000 USDT Stolen! (https://plasbit.com/research/crypto-dusting-attack)
- Crypto Dust Attack Case Study: 629,002 USDT Stolen In 4 Days (https://plasbit.com/research/crypto-dust-attack)
These case studies are enough to understand if this type of scam is worthy or not. These scammers have good skills and tools, once they find their target they attack them with all possible options and out of 100 targets if 1 target become a victim, scammers can make good money out of him only.
[/list]
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
These airdrops of worthless tokens are typically phishing scams. The idea is to lure you into interacting with the token, which might lead you to a malicious site where your wallet could be compromised. The token itself might be harmless, but any action you take with it could expose you to risk. Always verify the legitimacy of airdrops and avoid interacting with unknown tokens. Stay safe!
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
sometimes new tokens are just distributed randomly for the purpose of spreading awareness or trying to create hype they most likely just give out as many as they can to try and make it look like as if the project is in demand and has a strong community behind it already
If it's a type of scam, how is it realized?
if there’s any information being asked of you or if there’s any suspicious links attached to it the token itself may do no damage being in your wallet but if you take further action then that is when it might lead you to further problems
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sometimes new tokens are just distributed randomly for the purpose of spreading awareness or trying to create hype they most likely just give out as many as they can to try and make it look like as if the project is in demand and has a strong community behind it already
It only happens if you are too much active in some new ecosystem which is going to airdrop their tokens to their users. For example, let's say you have made a lot of transactions on Blast network which is ETH layer 2 solution. A lot of new projects are launching on blast ecosystem (Especially meme coins) and some them want to airdrop their tokens to OG blast users. In such case, you may receive some tokens without knowing where it came from.
But I am sure that is not the case with Examplens as these tokens are fake with malicious code in their smart contract. If he interact with these tokens and approve some permission, these smart contracts will drain his metamask in a couple of seconds. So, be aware of these free fake tokens.
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These airdrops of worthless tokens are typically phishing scams. The idea is to lure you into interacting with the token, which might lead you to a malicious site where your wallet could be compromised. The token itself might be harmless, but any action you take with it could expose you to risk. Always verify the legitimacy of airdrops and avoid interacting with unknown tokens. Stay safe!
What people don't understand is that there is no free money anywhere in the internet, it's either you offer service to earn it or you spend your time earning it. Nobody sit in the comfort of his home without doing anything and expect a thousand of dollars falling from heaven. That's will only end you in one place and that is nothing but scam.
Even then aidrop, they are not giving for free. You have to do some task to earn it. You are either given for doing basic share, likes and Retweet which is the lowest I have seen or you spend money interacting on their blockchain. Nothing is free even in free town.
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
sometimes new tokens are just distributed randomly for the purpose of spreading awareness or trying to create hype they most likely just give out as many as they can to try and make it look like as if the project is in demand and has a strong community behind it already
In 2017 it was very common to received even hundreds of dollars in airdrops like that, just for holding eth. You needed to sell fast , because the value of those tokens quickly collapses..
Nowadays we get those airdrops in l2 such as polygon. But they are not that good anymore
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In 2017 it was very common to received even hundreds of dollars in airdrops like that, just for holding eth. You needed to sell fast , because the value of those tokens quickly collapses..
Nowadays we get those airdrops in l2 such as polygon. But they are not that good anymore
It's been a crazy time, ICOmania. Any garbage of tokens could be pumped to incredible numbers. Many unexpectedly had a large fiat value in their wallet overnight, so I guess they easily spent that kind of money. It was no surprise that a token raised thousands of Ethereum through an ICO. That's why they were "generous" for bounty awards.
Now it's different, so money is spent much more carefully, although there are always extremes.
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It's been a crazy time, ICOmania. Any garbage of tokens could be pumped to incredible numbers. Many unexpectedly had a large fiat value in their wallet overnight, so I guess they easily spent that kind of money. It was no surprise that a token raised thousands of Ethereum through an ICO. That's why they were "generous" for bounty awards.
Now it's different, so money is spent much more carefully, although there are always extremes.
I think now is exactly the same.
People are creating useless projects, spamming useless tokens via airdrop which are worth hundreds/thousands of dollars, just to dump them and make people rich.
I think the result is the same of the ICO mania: most of them are useless projects, making people rich for nothing.
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It's been a crazy time, ICOmania. Any garbage of tokens could be pumped to incredible numbers. Many unexpectedly had a large fiat value in their wallet overnight, so I guess they easily spent that kind of money. It was no surprise that a token raised thousands of Ethereum through an ICO. That's why they were "generous" for bounty awards.
Now it's different, so money is spent much more carefully, although there are always extremes.
I don't really know why most of the new projects fail. Probably because there are too many new projects every week and people don't know which one to pick. The investors invest in multiple projects at a time and they divide their investment budget.
A lot of scam projects ran away with investors money which is why the number of legit projects decreasing everyday. If you don't see any big named behind a project, I guess we should avoid spending money on them. But unfortunately, I have wasted enough money before I understand this math.
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There are many tokens lying in my wallet for a long time which are useless and you can never sell these tokens. Maybe it's a phishing token and they're creating it to follow the original token. If you receive a phishing token of a popular token then you should know that it is a scam. Again if a brand new project is named and created as a phishing token, then you will understand that it is being used for marketing of their initiative is to give everyone an idea of their token. Because if you have tokens in your wallet then you will definitely want to search to exchange them.
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we must be careful in doing activities in this Cryptocurreny, there are many ways for Scammers to steal our assets. One of them is sending phishing tokens to our wallet, and when we interact with the token, our wallet's personal data will be stolen.
So stay careful and vigilant, if we feel that there is a token or Crypto Coin that enters our wallet and it is suspicious, my advice is to just leave the token alone, do nothing or do not interact (Do Swap) with the token.
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The token you mentioned may be part of an airdrop campaign, where tokens are distributed to a large number of addresses. Airdrops are generally used for promotional purposes, helping new projects or tokens gain exposure.
If you've received a token at a polygon address and aren't sure you applied, it's likely to be part of a fake or phishing campaign. An address labeled as 'Fake_Phishing3312' may be a warning sign that it is associated with a security risk.
Phishing campaigns typically attempt to collect users' personal information or gain access to their private keys. Such tokens should be treated with caution and refrain from clicking on any suspicious links or requests.
Besides, if you want to be more aware of the security of your portfolio or tokens, you can make sure that your wallet's security system is working properly and your private key is protected.
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The worthless tokens is commonly sent from suspicious ICO projects, they are not real. I have many of these coins/token in my wallet and i know that it comes some of these fake project trying to Scam people. There no point trying to click on them because they are not fake, and even some of them are similar projects created on an ongoing presale website to scam investors. I am always watchful and vigilant when this tokens find their ways to my wallet because i will never participate on any Airdrops or ICOs unknowingly.
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A lot of scam projects ran away with investors money which is why the number of legit projects decreasing everyday. If you don't see any big named behind a project, I guess we should avoid spending money on them. But unfortunately, I have wasted enough money before I understand this math.
I used to invest in new projects a few years ago and I've invested in some new projects this year but I can say that now most of the new projects are rug pulls and developers don't care much about the investors as their main intention is to fill their own pockets.
I guess, out of 10 projects I found only one that's still surviving and slowing growing in value. I invested in it on Pinksale a few months ago and let it on my wallet for long term to see how it will go and so far the project has grown from 300k to around 1M in marketcap and that marketcap is stable.
Rest of the 9 projects have no trading volume at all and they have lost most of the market cap, and that's why I believe most investors avoid the new projects for their own safety as there are so many rug projects these days.
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Rest of the 9 projects have no trading volume at all and they have lost most of the market cap, and that's why I believe most investors avoid the new projects for their own safety as there are so many rug projects these days.
This is the risk of investing in new projects. A lot of people become millionaires investing in new altcoins which pumped thousand times after they got listed on exchanges. But unfortunately, we don't see this things these days. Imagine how much money made by the early shiba Inu investors. But if you look at the altcoins which has been launched this year or last year, I guess none of them did a 20x except some ordinal tokens which actually congested the bitcoin network. At first I hated the developer for developing ordinal things, but as you can see, the network become normal again.
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Rest of the 9 projects have no trading volume at all and they have lost most of the market cap, and that's why I believe most investors avoid the new projects for their own safety as there are so many rug projects these days.
This is the risk of investing in new projects. A lot of people become millionaires investing in new altcoins which pumped thousand times after they got listed on exchanges. But unfortunately, we don't see this things these days. Imagine how much money made by the early shiba Inu investors. But if you look at the altcoins which has been launched this year or last year, I guess none of them did a 20x except some ordinal tokens which actually congested the bitcoin network. At first I hated the developer for developing ordinal things, but as you can see, the network become normal again.
I think most of those project fail because they lack innovation.
In the end, the goal of those projects is simple to make money for the creators and there is nothing really new on them, just some hype...
There is something new in ordinals, as they added nft to bitcoin network. But they are unsustainable
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I think most of those project fail because they lack innovation.
In the end, the goal of those projects is simple to make money for the creators and there is nothing really new on them, just some hype...
definitely most projects lack vision beyond profit they create hype around the fact that it can bring money to its investors which if they do exactly that then the project can be deemed successful but a lot of these projects no longer thinks of what can be the purpose of their coin or token aside from profit making it’s all very short term thinking imo
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
These are used by hackers for different types of phishing. not just in your wallet I think everyone's wallet has something like this. I have many such fake tokens input in my bsc, polygon and ki ETH wallet. I always avoid them because I know the projects I work on so I never worry about a coin I don't know. Hackers probably use some code that can hack your wallet and if you try to transfer those tokens your wallet can get hacked. so be careful about this. don’t try to transfer or swap that fake token
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definitely most projects lack vision beyond profit they create hype around the fact that it can bring money to its investors which if they do exactly that then the project can be deemed successful but a lot of these projects no longer thinks of what can be the purpose of their coin or token aside from profit making it’s all very short term thinking imo
I believe if the market ignores projects like those they won't pop out so often. Unfortunately, that doesn't seem to be the case judging from how many projects keep launching on new chains nowadays. That being said, I notice there's a decrease in funding for legit and quick pump-and-dump projects, so we could argue that the market has become more selective over time. I'm not sure if it will change again after the bull market comes though. That being said, I don't think most of them do the spam activity mentioned by OP to promote their projects.
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In 2017 it was very common to received even hundreds of dollars in airdrops like that, just for holding eth. You needed to sell fast , because the value of those tokens quickly collapses..
the amount of people interested in crypto has gone up in much recent times compared to back when it was 2017 so these projects can’t afford to just give everyone free tokens but since back then there weren’t a lot anyway it was easy to get one
Nowadays we get those airdrops in l2 such as polygon. But they are not that good anymore
some projects’ quality has receded because they are just trying to put out anything that might get some hype it doesn’t matter if it will last long or not as long as they get to put it out
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This week, I saw a thread on the Scam accusation board on another forum, which examplens knows. A veteran forum member, condoras, fell for these fake token/NFT scams. He saw an NFT on his ledger wallet app and went ahead to claim that. He went to a website and entered his seed phrases and boom! his wallet was hacked and the hacker drained his entire balance.
This is an example that no matter how veteran you are, if you are aware of latest scam methods that scammers have been using to trick people, then you could be the next victim. So, I assume people started to know what is point of these worthless tokens.
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This week, I saw a thread on the Scam accusation board on another forum, which examplens knows. A veteran forum member, condoras, fell for these fake token/NFT scams. He saw an NFT on his ledger wallet app and went ahead to claim that. He went to a website and entered his seed phrases and boom! his wallet was hacked and the hacker drained his entire balance.
This is an example that no matter how veteran you are, if you are aware of latest scam methods that scammers have been using to trick people, then you could be the next victim. So, I assume people started to know what is point of these worthless tokens.
I'm just reading that topic, it seems that his mistake was that he didn't enter the seed phrase, but he tried to claim free NFT tokens, while he approved outgoing transactions on his ledger.
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This week, I saw a thread on the Scam accusation board on another forum, which examplens knows. A veteran forum member, condoras, fell for these fake token/NFT scams. He saw an NFT on his ledger wallet app and went ahead to claim that. He went to a website and entered his seed phrases and boom! his wallet was hacked and the hacker drained his entire balance.
This is an example that no matter how veteran you are, if you are aware of latest scam methods that scammers have been using to trick people, then you could be the next victim. So, I assume people started to know what is point of these worthless tokens.
I'm just reading that topic, it seems that his mistake was that he didn't enter the seed phrase, but he tried to claim free NFT tokens, while he approved outgoing transactions on his ledger.
Those type of scam are very common, I received dozens of them in my oldest Ethereum addresses.
The point is that you should always google about an address before going to it. And always be very careful about signing anything with your ledger or any other hardware wallet.
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Those type of scam are very common, I received dozens of them in my oldest Ethereum addresses.
The point is that you should always google about an address before going to it. And always be very careful about signing anything with your ledger or any other hardware wallet.
Looking at it from that perspective, I'm not sure how good it is to use multicurrency wallets, it's obvious that even experienced users can be misled.
I use Trezor, although I also have Ledger. Trezor has two confirmations that I have to do physically on it, while Ledger I think 4, and this is quite tiring for me, but obviously, it is not crucial that the user still approves the wrong transaction.
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I use Trezor, although I also have Ledger. Trezor has two confirmations that I have to do physically on it, while Ledger I think 4, and this is quite tiring for me, but obviously, it is not crucial that the user still approves the wrong transaction.
Technically you shouldn't approve to send coins when receiving an airdrop.
However, smartcontracts may be misleading and people might just approve a contract which will send coins.
This is why you should always do your research about the legitimacy of any website before connecting your HW.
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Those type of scam are very common, I received dozens of them in my oldest Ethereum addresses.
The point is that you should always google about an address before going to it. And always be very careful about signing anything with your ledger or any other hardware wallet.
If you know that you haven't participated in such airdrop but got some random token or an NFT, you should ignore that. There is less than a 0.001% chance that someone will send you a token by mistake. You should understand that it's a trick from the scammers that will eventually drain your wallet if you fall for these scams.
I don't even google if such NFT or tokens exists. Because it is pretty much old scam method. Whoever on the crypto space for a while should know about these scams. I remember there was a token Minerium or something which even showed how much it worth in trust wallet which was a fake scam token.
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I don't even google if such NFT or tokens exists. Because it is pretty much old scam method. Whoever on the crypto space for a while should know about these scams. I remember there was a token Minerium or something which even showed how much it worth in trust wallet which was a fake scam token.
I remember that minerium was a legit project but you need to mine or something similar to convert your tokens to real money. I even made a small research about it , but it was not worth the trouble.
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I remember that minerium was a legit project but you need to mine or something similar to convert your tokens to real money. I even made a small research about it , but it was not worth the trouble.
I don't know much about it. But if I remember correctly, a lot of people started to receive tokens which say Minerium BSC, which was actually a fake token. To this day, if you search Minerium BSC on Google, you get a link to Coinmarketcap https://coinmarketcap.com/currencies/minereum-bsc/, which shows this warning. (https://talkimg.com/images/2024/10/16/8Jqy8.png)
Even though I do not remember what happened with the victims because I always ignored this, Coinmarketcap still helps us by showing the warning that it is true that something was wrong with this Minerium.
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I don't even google if such NFT or tokens exists. Because it is pretty much old scam method. Whoever on the crypto space for a while should know about these scams. I remember there was a token Minerium or something which even showed how much it worth in trust wallet which was a fake scam token.
The more we are exposed to this type of scam, the more we can recognize the red flags. I also remember this Minerium thing because I was one if its recipients but at that time I already doubted it since we know that nobody will be sending something for no reason at all. These days, there are still scammers using this technique maybe they are targeting newbies who can be attracted to being greedy. We should always note that scammers and hackers are very creative people...and in many times they can be ahead of the curve so we have to think thrice before we act on something that just came in to our wallet uninvited. I am hoping there is a free way we can eliminate these scam coins and tokens from our wallets...they can can be pain in the *ass* to see.
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I don't know much about it. But if I remember correctly, a lot of people started to receive tokens which say Minerium BSC, which was actually a fake token. To this day, if you search Minerium BSC on Google, you get a link to Coinmarketcap https://coinmarketcap.com/currencies/minereum-bsc/, which shows this warning. (https://talkimg.com/images/2024/10/16/8Jqy8.png)
Even though I do not remember what happened with the victims because I always ignored this, Coinmarketcap still helps us by showing the warning that it is true that something was wrong with this Minerium.
MNEB is another token. You are talking about a fake one.
This is the true minereum (MNE) token
https://etherscan.io/token/0x426ca1ea2406c07d75db9585f22781c096e3d0e0
(https://talkimg.com/images/2024/10/16/8rQUv.png)
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The more we are exposed to this type of scam, the more we can recognize the red flags. I also remember this Minerium thing because I was one if its recipients but at that time I already doubted it since we know that nobody will be sending something for no reason at all. These days, there are still scammers using this technique maybe they are targeting newbies who can be attracted to being greedy.
Not only newbies but also some veteran members fall for these scams. If you check the recent posts of this thread, you will understand what I am saying. An old forum member has been hacked recently, proving that you don't have to be a newbie to fall for these scams. The scammers do not know if you are a newbie or an experienced guy. They check your wallet address to see if it contains any funds, and as long as you have funds, they will send you some fake NFT/Tokens and try to convince you to exchange/sell those NFT/Tokens. I am glad there are not many cases In the forum. The recent cases will be an educational thread for the forum members. We must learn from others mistakes. Or do we have to pay a lot to learn these things?
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Not only newbies but also some veteran members fall for these scams. If you check the recent posts of this thread, you will understand what I am saying. An old forum member has been hacked recently, proving that you don't have to be a newbie to fall for these scams. The scammers do not know if you are a newbie or an experienced guy. They check your wallet address to see if it contains any funds, and as long as you have funds, they will send you some fake NFT/Tokens and try to convince you to exchange/sell those NFT/Tokens. I am glad there are not many cases In the forum. The recent cases will be an educational thread for the forum members. We must learn from others mistakes. Or do we have to pay a lot to learn these things?
Who was hacked recently? Can you share?
I believe using small amounts of crypto in low secure but convenient wallets, such as mobile wallets, is acceptable and anyone can be hacked that way. But being hacked in your BTC stash is simple terrible...
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Who was hacked recently? Can you share?
I believe using small amounts of crypto in low secure but convenient wallets, such as mobile wallets, is acceptable and anyone can be hacked that way. But being hacked in your BTC stash is simple terrible...
Yeah. It was one of the old BitcoinTalk forum members, Condoras, who is known for his lending service, which he has provided for a long time. He recently saw an NFT on his Ledger app, which he tried to claim by connecting his wallet by visiting a website; later, the hacker wiped his entire wallet. I believe the hacker sent a fake NFT to his address, which led him to collect that NFT.
Here is the link to that thread he created https://bitcointalk.org/index.php?topic=5512505.0
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If it's only a random ticker or unpopular token, it's just for marketing purposes, kinda like spam with emails or airdrops. The purpose is just "views" so the address owner searches or knows about the token existence. This practice has been common ever since ETH, and then BSC.
I know this is old but does this actually work? I understand if they are being sent out as spam and also to phish( for those with url as their tickers) but as a form of marketing I don’t see how this will help.
I’m not sure that they’re people that will come across a token in their wallet and then decide that they’re people want to invest more in it, so I don’t really see how this will help them in marketing. Most of the tokens I have seen like this in my wallet usually don’t have any information about them online whenever I search them.
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If it's only a random ticker or unpopular token, it's just for marketing purposes, kinda like spam with emails or airdrops. The purpose is just "views" so the address owner searches or knows about the token existence. This practice has been common ever since ETH, and then BSC.
I know this is old but does this actually work? I understand if they are being sent out as spam and also to phish( for those with url as their tickers) but as a form of marketing I don’t see how this will help.
I’m not sure that they’re people that will come across a token in their wallet and then decide that they’re people want to invest more in it, so I don’t really see how this will help them in marketing. Most of the tokens I have seen like this in my wallet usually don’t have any information about them online whenever I search them.
Sometimes the token name is a URL.
Those are the most dangerous ones, and someone curious enough may just go to the URL and get some malware or see a request for wallet connect to a malicious smartcontract
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
Yes, this is scam token and I must inform you that such kind of scam tokens are common, I have been receiving them on numerous times.
Honestly, if you did not apply for such project airdrops, ICO/IDO, there is no point trying to send or use them any way. It is a trap!
Many scammers believe that if they send free coins to numerous people, there may be some that will fall for the trap. Indeed it is a trap especially for those that are newbie or covetous crypto enthusiast. scammers feel some victims will get this free tokens not knowing what is underneath.
Now, some of these free sent tokens are strategic ways scammers track your wallet informations, it is not advisable to swap, send or even ask for information on how to used them.
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
Since the wallet which those tokens are received lebal the as fake it then means truly those tokens are worthless and should not be taken seriously, although again we have to be careful not to engage those tokens on our wallet in other not to give them access to some of our wallet features which is what their are after.
But also only a victim of such scam can clearly explain to your how those scams work, and every other comments may be out of experience and assumptions.
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I noticed that I received some kind of airdrops on a Polygon address, although I'm not sure when I applied. It doesn't matter.
Can someone specifically explain what the purpose of these tokens is and why someone does this at all?
I have no intention of dealing with that token, but I see that it was sent to many addresses, I believe that someone will think that they can get something out of there.
The address from which it was sent is labelled as Fake_Phishing3312
(https://talkimg.com/images/2024/04/29/rGBpz.png)
If it's a type of scam, how is it realized?
Since the wallet which those tokens are received lebal the as fake it then means truly those tokens are worthless and should not be taken seriously, although again we have to be careful not to engage those tokens on our wallet in other not to give them access to some of our wallet features which is what their are after.
But also only a victim of such scam can clearly explain to your how those scams work, and every other comments may be out of experience and assumptions.
Tokens of such nature are majorly minted by scammers to spam wallets and anybody who tries to transact with such token in their wallet would definitely have their assets in that wallet taken by the scammer. They do not just send those tokens there, they send it already programmed that if one does transact with it, they automatically invade the wallet and do away with everything valuable in that wallet.
It is good that the developers of blockchain do act fast to label those tokens as fake phishing upon reports from users so as to safeguard the rest of the others that have not accessed so they have the knowledge of the token to be fake and not transact with it that they do not loose their assets. Such measures are proactive for all even the newbies when they see it, they already know and restrain themselves from transacting with such token via their wallet.