Investors lose nearly $6.5 million to fake token airdrops since August 2022

Scammers exploit permissions granted by wallets to steal cryptocurrencies from users who believe they can receive free coins

Coins falling down from a hole in a wallet
A fake "Claim" scam has become particularly common following the recent surge in memecoin popularity

Yesterday, the Twitter account of AegisWeb3, PeckShield's cybersecurity product, posted an alert about a fake "Claim" scam that emptied the wallets of crypto investors willing to participate in token airdrops. According to AegisWeb3, at least 14,605 victims lost a total of 3232.36 ETH worth almost $6.5 million at press time.

Other disturbing statistics published by AegisWeb3 show that the maximum loot of a single address is 1024 ETH, while the drainer with the highest number of exploits has 2137 victims who lost a total of 302 ETH.

Read also: What is an airdrop? Key things to know about crypto airdrops: earnings, types, scams, risk factors

The main strategy of the scammers was to lure victims with generous airdrops, particularly made with fake memecoins, which had to be claimed through phishing websites. This resulted in the scammers inadvertently getting permission to withdraw cryptocurrency from wallets.

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"AegisWeb3 has detected that 3,232 $ETH ($6.4 million) has been stolen from unsuspecting users who have linked their wallets to malicious websites seeking to "Claim" fake tokens across the Web3 ecosystem. 1,024 $ETH ($1.8 million) has been transferred to a specific address belonging to one of the most profitable scammers," the PeckShieldAlert Twitter account posted the news.

PeckShield recommends using the free AegisWeb3 browser extension, which can detect phishing websites related to cryptocurrency investments.

Read also: Millions stolen in crypto scam impersonating HitBTC exchange, SlowMist warns

This week, another scam report was published by MistTrack about fake websites impersonating the cryptocurrency exchange HitBTC, whose users lost $15 million worth of various cryptocurrencies. Interestingly, users of the real HitBTC platform have also made numerous reports on review websites about the exchange preventing them from withdrawing their deposits.