As the Blur The NFT market has gained notoriety, users are now being warned to be on the lookout for scammers. Since the platform began distributing its $BLUR token, there has been an increase in fake airdrop websites seeking to gain access to wallets and empty them of their contents.
Season 1 of Blur’s airdrop initiative ended on February 15, and since then, scammers have stolen more than $300,000 in funds from unsuspecting users. This is according to data from trust Check, an Ethereum-based Web3 security extension. All the funds were sent to the same address, and this was how the security extension was able to keep track of how much was being stolen. In total, the team has identified 24 websites that are involved in scam activities.
There is a phishing scam promoting a fake @blur_io airdrop!
Thank you to our community for bringing this to our attention. Stay safe out there! #BlurAirdrop #Blur #SCAM pic.twitter.com/sbe6KrFtJp
—TrustCheck (@TrustCheckxyz) March 9, 2023
Disconcertingly, these websites are hidden in plain sight, users can Google “Blur Airdrops” and be directed to malware-infested wallet drain websites. Despite ongoing protests over the display of fraudulent ads on Google, not much has been done to remove them from search engine results.
Blur Airdrop Scams Use Phishing Sites
Scams within the crypto and NFT space are nothing new, due to a lack of regulation within the industry. Scammers have sought ways to capitalize on the growing popularity of non-fungible tokens by coming up with all sorts of schemes. The most common methods used to target unsuspecting individuals within the space include phishing schemes, bidding scams, pump and dump scams, and the existence of counterfeit NFTs.
The numbers involved are mind-boggling. For example, a report from Elliptic, a cryptographic analysis protocol, indicates that more than $100 million in NFTs were stolen in the first half of last year alone.
Scammers were able to steal an average of $300,000 per scam, and some of the most valuable NFT collections came under heavy attack. Unfortunately, one victim lost 16 top-tier NFTs that were worth around $2.1 million at the time.
As is the case with the Blur airdrop scams, phishing sites play the biggest role in targeting unsuspecting NFT holders.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world.
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