econintersect.com
Unsuspecting users seeking to claim Blur token airdrops have had their funds stolen by several fake websites.
Scammers continue marauding in the digital asset markets space and this time around they are preying on nonfungible token (NFT) users aiming to claim Blur (BLUR) token airdrops via many scam websites. Based on the data acquired from TrustCheck, more than $300,000 has been stolen from unsuspecting users that have connected wallets to malicious websites.
The legitimate Blur website is a newcomer to the NFT marketplace, making huge waves in the sector with explosive user numbers and trading volume directly resulting from the platform’s three-phase airdrop incentive scheme. Up to 10% of Blur’s cumulative token supply was distributed to the users according to their trading activity in its second token airdrop scheme launched on February 15.
Notably, the first airdrop was retroactive. It awarded tokens to anyone who traded an NFT on Ethereum in the six months that led up to the platform’s launch in October 2022. The second airdrop awarded these tokens to users who already listed NFTs before December 6, while the third airdrop awarded tokens to the users who placed bids on the platform after the feature was launched officially.
Considering the incentive program’s mechanics, most users have been looking for opportunities to claim BLUR tokens across the NFT ecosystem. That created a chance for the scammers to promote fake airdrop links to phony and malicious websites.
Data shared with reporters from Ethereum-based Web3 browser security extension TrustCheck shows that more than $300,000 worth of funds have been stolen from 24 scam websites since February 15. Some of these websites are still active, with users warned to be wary when connecting their crypto wallets.
These websites use smart contracts that automatically prompt transactions when the users link their Ether (ETH) wallets. All the ETH from these wallets is then drained to a particular address that has let TrustCheck keep tabs on the number of funds stolen to date.
Tools like TrustCheck often flag suspicious websites and transactions and warn Web3 users of possible fake websites and smart contracts.
Blur has been in the spotlight because of reports of users executing NFT wash trading to cash in on its token airdrop incentive scheme. Nonetheless, data analytics conducted by data scientist Hildebert Moulié on Dune suggest that Blur’s NFT trading volumes are entirely legitimate.
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Phony websites and phishing attacks are common on the internet, while scammers continue trying to steal funds via Web3 functionality. In February, a URL claiming to be the official ETHDenver conference website was linked to a phishing wallet address that has already stolen more than $300,000 to date.
In late 2022, cybercriminals also targeted FTX exchange investors by using phishing sites scrambling to recoup funds after the crypto exchange imploded.