CoinGecko warns of scammers promoting fake GECKO airdrops

Crypto price aggregator website CoinGecko says bad actors are flooding social media with fake GECKO token airdrops.

Crypto data aggregator CoinGecko warned about fake airdrop scams, urging users to exercise caution as fraudulent schemes targeting its community gain traction.

In an Aug. 21 post on X, CoinGecko alerted its followers to misleading claims about a GECKO token airdrop, emphasizing that the company has no plans to launch such an initiative.

“This is NOT true. CoinGecko does not have any tokens or airdrop plans at the moment. Always stay vigilant and double-check your sources before clicking any links.” CoinGecko

The warning from CoinGecko comes as posts on X pop up, falsely claiming that the crypto price data website “confirmed $GECKO” airdrop. One such X post references a 2020 CoinGecko blog post that discussed CoinGecko Candy, a reward point system for users.

CoinGecko hints at launching a token | Source: CoinGecko

The post fueled speculation by saying “CoinGecko Candy are not transferable and they are not a cryptocurrency/token (yet!),” hinting at potential future developments. However, the same blog also explicitly warned about “fake ERC-20 CoinGecko scam tokens” created by malicious actors, advising caution.

Such fraudulent activities are not uncommon in the crypto space, where scammers often exploit the reputation of established platforms to mislead users. In March 2023, for instance, MetaMask had to address “false rumors” of a nonexistent airdrop after speculation arose from comments made by ConsenSys CEO Joe Lubin during a session at ETHDenver 2023, where Lubin emphasized that his company was “trying to decentralize” MetaMask and mentioned the company had plans to distribute a token.