Scammers target non-fungible token (NFT) users by promoting fake airlinks to claim BLUR tokens on malicious websites. According to TrustCheck, scammers have stolen over $300,000 worth of Ether from unsuspecting users who linked their wallets to these fake websites.
The BLUR platform is a newcomer to the NFT market and has gained popularity with its three-phase airdrop incentive scheme. Users have been receiving tokens based on their trading activity on the platform. The second airdrop scheme distributed 10% of the total supply of BLUR tokens to users who traded NFTs on Ethereum. The first airdrop was retroactive and awarded tokens to anyone who traded an NFT in the six months leading up to the platform’s launch, while the third airdrop rewarded users who made offers on the platform.
The incentive program has created an opportunity for scammers to take advantage of users looking to claim BLUR tokens across the NFT ecosystem. These fake websites use smart contracts that automatically request transactions when users connect their Ether wallets. Then all the Ether in the wallet is drained to a specific address. TrustCheck has been monitoring the amount of stolen funds by flagging suspicious websites and transactions, warning Web3 users about possible fake websites and smart contracts.
Despite reports of NFT laundering, data analysis suggests that BLUR’s NFT trading volumes are legitimate. Fraudsters continue to drain funds through Web3 functionality, as phishing attacks and fake websites are commonplace on the Internet. As of February 2023, a phishing wallet address linked to a URL posing as the ETHDenver conference website has stolen over $300,000 to date. In late 2022, scammers targeted FTX investors via phishing websites after the failed cryptocurrency exchange imploded.
It is crucial for NFT users to be vigilant and cautious when it comes to token airdrops and to ensure that they only connect their wallets to legitimate websites. Tools like TrustCheck can help users identify suspicious websites and transactions, but ultimately it’s up to individuals to protect their funds and stay informed of potential scams.