Crypto Airdrop Scams: Types and How to Avoid Them

Crypto airdrop, which involves disbursing tokens based on defined criteria, is hugely popular in the crypto space.

Airdrops help projects sensitive the crypto crowd on their activities. Frankly, many consider airdrops as marketing ploys as most projects record massive gains in followers across their social media channels.

While there are decent airdrops out there, they are far reaching and few. There are lots of airdrop scams out there disguised as freebies.

If you’re not cautious about what airdrops you partake in, you might lose your crypto assets.

Types of Airdrop Scams

All airdrop scams aren’t cut from the same cloak. There are different airdrop scams, and each has nefarious intentions behind its creation. Let’s delve into the various forms of airdrop scams.

Private Key Airdrop Scam

Here, the airdrop scam targets the private key of your wallet. Those behind this airdrop claim you have to drop your private key to get the airdrop.

To entrap potential victims, these airdrop scam organizers use juicy assets as airdrops.

Unfortunately, if you drop your private key as requested, all the assets in your crypto wallet are stolen. No genuine airdrop requires the private key of your crypto wallet.

The dust airdrop scam

This is a new airdrop scam where people get small quantities of tokens airdropped to their wallets as bait. You only get caught in the trap if you try to trade the airdrop. The scammers swipe the assets in your wallet on trading the airdrop.

Information collection airdrop scam:

This is another notorious airdrop where participants fill a form for a supposed airdrop, but their information is sold to other projects or used for something worse.

Avoiding Airdrop Scams

The best way to stay safe in a crypto space filled with airdrop scams is to follow the DYOR route. Don’t just submit your details blindly because of an airdrop. Confirm the genuineness of the airdrop before you jump on board.

Watch out for the notorious airdrop bots. Though a few decent airdrops abound on airdrop bots, most are fake and out to collect your information.

Google form information submission doesn’t equate to genuine airdrops. If an airdrop campaign requires filling a Google form, verify from the project’s website or telegram announcement channel.

If an airdrop is too good to be true, it’s probably a scam. Airdrops might be enticing, but they’re not created to make you rich. If an airdrop campaign poses as your opportunity to get rich, it is likely a scam.