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Crypto Community Warns Users About Fake Arbitrum Airdrops
The Arbitrum community has warned users about various fake airdrops claiming to come from the project's newly launched Decentralized Autonomous Organization (DAO). Scammers began creating fake Arbitrum airdrops and phishing websites after Ethereum's Layer 2 scaling protocol announced the DAO last week, although it promised to distribute 12.57% of the governance token ARB to eligible community members on March 23, 2023. In the statement, the protocol said it uses a points system to determine users eligible to claim the airdrop and the number of tokens each will receive based on their performance and his activities on the platform. Fake airdrops,...
Crypto Community Warns Users About Fake Arbitrum Airdrops
The Arbitrum community has warned users about various fake airdrops claiming to come from the project's newly launched Decentralized Autonomous Organization (DAO).
Scammers began creating fake Arbitrum airdrops and phishing websites after Ethereum's Layer 2 scaling protocol announced the DAO last week despite promising itdistribute12.57% of the governance token ARB to eligible community members on March 23, 2023.
In the statement, the protocol said it uses a points system to determine userseligible to claim the airdropand the number of tokens each can receive based on their performance and activity on the platform.
Fake airdrops posing as ARB tokens
As hundreds of fake Arbitrum airdrops and scams are circulating, the project's community and some blockchain security companies warned users who want to earn free money to be vigilant and cautious of such fraudulent websites claiming to share airdrops.
In a Twitter post on March 19, Arbitrum News DAO called It identified over 273 Arbitrum-related phishing sites since Ethereum's Layer 2 protocol announced airdrop distribution. According to the tweet, the number is expected to rise before the official distribution date on Thursday.
Likewise the crypto security startup Redefine discovered a fake website posing as an Arbitrum airdrop website. According to screenshots shared by the company, the phishing site asks users for authorization to access their wallets so that the criminals can empty victims' accounts.
Also the blockchain security company CertiK identified a fake Twitter account called @arbitrum_launch that is currently promoting a token airdrop. The company then warned users to stay away from the account and not interact with the airdrop.
Free money
A Reddit user named CryptoMaximalist also posted athreadon the social platform warns that “scammers hope to capitalize on crypto’s complexity and users are happy for free money.”
The Redditor said he found Twitter profiles claiming to be “Arbitrum” with links to fake websites encouraging users to claim the airdrop.
CryptoMaximalist warned other Redditors to always check a user's profile history and also other subreddits to find out if they are spamming links through the platform.
With the expected increase in scams and fake arbitrum, crypto users should be careful lest they lose their funds to scammers like other fake crypto airdrops that have siphoned thousands of dollars from victims in the past.
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