After the Corbit scam trading platform and a new trading floor project has just been discovered scam Monanex has raised fears from the virtual currency community to participate in fraudulent airdrop projects. The Payvnn Team writes this article to answer the question whether airdrop is scam or not and how to find out if an airdrop project is scam .
Airdrop from time to time?
To better understand the nature of airdrop, read what is Airdrop article was posted on Payvnn.
Airdrop has been around for a long time, probably since the Stellar Project has been giving away their free STR for all users since 2014. Or when the Bitcoin Collector gets a Bitcoin Cash The equivalent of hard fork can also be understood as airdrop.
By the end of 2017, the new virtual currency will become widely available and widely adopted. There are many forms of airdrop available to users such as:
- Free distribution to anyone who meets some small conditions such as Bitcoin ownership, EDO wallet settings, eg Stellar , ETHLend …
- Airdrop tokens have not been sold to those who have participated in the ICO, such as Cappasity , CanYa …
- Airdrop when you do some conditions like join telegram, follow twitter … Examples of projects are posted at the Airdrop and Bounty sections .
- Airdrop in hard-fork for example airdrop Callisto Coin for ETC owner, airdrop Ontology for NEO owner .
Is a Airdrop scams?
The first time the airdrop projects were real and beneficial for both the project and the participants. Users are encouraged to invest and use the project, expanding the community and introducing more investors.
However, as the market is heating up with the new airdrop, the number of participants is increasing, there are also a series of airdrop rogue projects appear. This is quite similar to the appearance of fraudulent ICO projects .
The reputable airdrop has received
The scam airdrop
Payvnn has recently warned readers of two fraudulent airdrop projects: Corbit.website (closed) and Monanex (still active). Some analysis shows that the two phishing projects are from a same team.
In addition there are countless airdrop projects scam has been shared by Vietnamese community as airdrop TRX, airdrop EOS …
The purpose of the scam airdrop?
The first and most easily achieved goal is to quickly get a great social networking community. Since airdrops often require participants to sign up for e-mail, like Facebook, to participate in the Telegram, follow up on Twitter, it’s easy to get a community of tens of thousands of people on social networks. After cheating, renaming Facebook, Telegram, Twitter is very easy. Airdrop rogue from Corbit, fake EOS airdrop, fake airdrop TRX is this form.
Some projects have more sophisticated purposes, which are collecting user data for fraudulent purposes of ICOs. Investors may be tricked into sending ETH to fraudulent sites or bogus ICO projects.
How to identify scam airdrops
Participating in rogue airdrops will cost you less and more time wasting your personal information and money. So, in addition to finding airdrop projects from reputable sources like Airdrop Money, MySpace.com, self-equipping knowledge helps you avoid being fooled.
Identification of fraudulent airdrop is similar to that of fraudulent ICO identities, in the following ways:
With the airdrop from the big projects, there are names:
- Will Airdrop be officially notified? A reputable airdrop from major projects needs to be officially announced on the news channels like Telegram, Medium, Twitter or Bitcoin.
- Where to join airdrop? Large projects must have a specific website and clear rules program. If the airdrop of a large project that simply fills the form or join the Telegram is obviously a scam.
Airdrop from the ICO project, new small project activity:
With this type of airdrop you need to check more carefully to avoid scams.
- Community Telegram, Twitter, Bitcoin : how many community on Telegram, Twitter and Bitcoin? Avoid joining the airdrop without any information on Twitter or Bitcoin.
- Has the project been developed for a long time ? If this project has a post on Twitter or Bitcoin, have you seen this project been developed for a long time? If you have just released the airdrop, be careful.
- Send Email : if airdrop is registered on the website, is there a confirmation email? Without any email, this airdrop is highly fraudulent.
- Team development : You need to check whether the development team is real or not, there is a page on LinkedIn or not. Also, use Google’s image search to see if the image is real or just an image taken on the web.
How to protect yourself when participating in airdrop projects
Refer to the article FAQ about Airdrop and Bounty .